Hambantota Port to see revenue-generating programmes

Hambantota (ZiraDaily) - Nimal Siripala de Silva, Minister of Ports, Shipping, and Aviation, has revealed plans to implement various revenue-generating programs at the Hambantota Port in Sri Lanka.

Following a discussion at the ministry, it was disclosed that the Sri Lanka Ports Authority (SLPA) owns 15% of the shares of Hambantota Port. However, the government has not received any dividend as the port has failed to generate profits thus far, mainly due to the economic downturn caused by the COVID-19 pandemic.

During the meeting, the Chief Executive Officer of Hambantota Port highlighted the need to address several issues with the Central Bank (CB) and the Board of Investment (BoI) in order to proceed with a new development program for the port.

In response, Minister Silva assured that the Ministry would promptly intervene to resolve these challenges and facilitate the implementation of the development program.

Currently, the primary operational function of Hambantota Port has been the re-export of imported vehicles. However, Minister Silva expressed optimism that if container re-exports can be initiated in the future, the port will be able to generate profits.

The Ministry's focus on implementing revenue-generating initiatives at Hambantota Port indicates a proactive approach to revive the port's financial performance amidst the economic challenges faced by Sri Lanka.