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Sunday September 24th, 2023

Sri Lanka to draw executive jets, private planes to Ratmalana

ECONOMYNEXT – Sri Lanka is planning to draw private aircraft to Ratmalan Airport, fast tracking approvals also allowing high end tourists to reach the capital quickly once Coronavirus controls are relaxed, officials said.

Kimarli Fernando, Chairperson of Sri Lanka Tourism Board said private jets bring tourists to high end destinations like the Maldives.

“Private jet is a good cue for us, I have already spoken with Civil Aviation and they are totally supportive,” Fernando told an online forum organized by Advocata Institute a Colombo-based think tank.

“So private jets will fly into Ratmalana Airport, it will be the fastest turnaround, you’ll be in your car by 15 minutes, probably.”

At the moment it takes about 48 hours for private jets to get approvals while in UK it takes less. Sri Lanka is working towards an 8-hour approval system for private jets, she said.

“So, these are the things we need to look as an industry where we look at particular segments.”

While premium tourists may be useful, low-end tourists bring big benefits in raising income of the people directly, the experience of East Asian nations like Vietnam had shown.

Revenues from high end tourists have to go to pay for billions spent on hotels.

“Ratmalana is predominately used now as a corporate jet airport,” Shehan Sumanasekera, Sri Lanka Airport, and Aviation Operations Director told EconomyNext earlier this year.

He said about fifteen jets roughly arrived at the airport before the COVID crisis.

“The main reason for them to use the airport is for access to Colombo, it is just 14 kilometers as opposed to BIA being about 35 kilometers plus the processing time.”

The civil aviation had planned on upgrading the airport to better suit its consumers.

“At Ratmalana, basically there will be new terminal coming up to better suit corporate jets,” Sumanasekear said.

“Right now the current terminal doesn’t have the facilities to process these aircraft, however, we do it. But we are looking at uplifting the facilities there.”

Ratmalana will also get a better Air Traffic Control system.

He said that they have not drawn up the BOQ’s since they just got (March) the board papers. (Colombo/Apr22/2020-sb)

Comments (2)

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  1. Ralph says:

    If this is going to work flight plans need to be approved
    Within 2 hrs
    Uk has lots of traffic so they take longer
    Also the whole operation needs to be given to the private sector to efficiently handle logistics

  2. Ushan Edirisinghe says:

    Good work…. We need more and more upmarket visitors, but target of arrivals in number should not be 5 mn etc…because the majority is budget visitors and as SL cant afford them anymore. However, airports may be preferred by the jetliners. I heard several privet jets were rejected by SL last week due to PCR test issues in spite of them being their stay in SL for a few hours. This is a loss as well. Thank you

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Comments (2)

Cancel reply

Your email address will not be published. Required fields are marked *

  1. Ralph says:

    If this is going to work flight plans need to be approved
    Within 2 hrs
    Uk has lots of traffic so they take longer
    Also the whole operation needs to be given to the private sector to efficiently handle logistics

  2. Ushan Edirisinghe says:

    Good work…. We need more and more upmarket visitors, but target of arrivals in number should not be 5 mn etc…because the majority is budget visitors and as SL cant afford them anymore. However, airports may be preferred by the jetliners. I heard several privet jets were rejected by SL last week due to PCR test issues in spite of them being their stay in SL for a few hours. This is a loss as well. Thank you

Sri Lanka India industrial zone around Trinco, maritime links mooted

ECONOMYNEXT – Sri Lanka’s Ports Minister Nimal Siripala de Silva had highlighted the desire of both the Governments to work closely to develop the industrial zone at Trincomalee, after accepting an invitation to participate in a maritime summit.

The Global Maritime India Summit (GMIS) will be held in India from October 17-19, 2023 at Mumbai where Sri Lanka has been invited at a partner country.

At a curtain raiser event on September 22, India’s High Commissioner in Colombo, Gopal Baglay had said both countries were working on enhancing sea connectivity according to a vision document launched during a recent visit of the President of Sri Lanka to India.

Minister de Silva will lead a delegation from Sri Lanka to the summit.

Secretary to the Ministry of Ports, Shipping and Waterways, Government of India, T K Ramachandran said the Global Maritime India Summit aims strengthen the Indian maritime economy by promoting global and regional partnerships and facilitating investments.

The event will give an opportunity to the Government of Sri Lanka to attracting greater investment from India in development of its maritime infrastructure, Ramachandran said.

It will also facilitate greater business to business interactions. (Colombo/Sept24/2023)

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Sri Lanka brings back import para tariff on milk

ECONOMYNEXT – Sri Lanka has brought back an import para tariff called the Ports and Airports Levy, to several grades of milk powder.

Milk powder has been removed from a list of PAL exemptions, making them liable for a 10 percent tax.

The PAL para tariffs are also a contentious issue in terms of export competitiveness, and the government has previously given undertakings that they will be eliminated.

Trade freedoms of the poor figure in an IMF/World bank reform program with the governments.

Milk is a protein rich food, in a country where children of poor families are facing stunting and malnutrition.

Economic nationalism is seen at high levels in food, with several businessmen are pushing for trade protection, amid an overall autarkist (self-sufficiency) ideology, going directly against policies followed in East Asia, which the same as hold up as examples.

Sri Lanka keeps dairy product prices up ostensibly to bring profits to a domestic dairy company and farmers.

Sri Lanka also keeps maize prices up, ostensibly to give profits to farmers and collectors. (Colombo/Sept22/2023)

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Sri Lanka govt warns liquor manufacturers: pay defaulted tax or lose licence

ECONOMYNEXT – Sri Lanka government which is struggling to raise the state revenue despite   higher taxes, has warned liquor manufacturers to pay defaulted taxes or lose their licence.

The government is now getting tough with past tax defaulters amid concerns over falling short of this year’s revenue target agreed with the International Monetary Fun (IMF).

“Liquor manufacturing firms owe us 660 crore rupees (6.6 billion rupees),” Siyambalapitiya told  reporters on Thursday (21).

“Most of this or around a third is the only excise tax amount to be paid. The rest is penalty. If a liquor manufacturer does not pay on time, we impose a penalty of 3 percent per month This means 36 percent (penalty) per annum,” he said.

“We have given them deadline to repay the basic excise taxes. If they don’t pay, we will cancel their licence.”

President Ranil Wickremesinghe’s government committed an ambitious revenue target among many other reforms to the International Monetary Fund (IMF) in return to a $3 billion loan package.

However, the revenue could face a short fall of 100 billion rupees, State Finance Minister Ranjith Siyambalapitiya has said.

A new Central Bank Act also has legally prevented the government of printing money at its discretion as  in the past.  (Colombo/September 24/2023)

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