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H’tota Port deal amended again

10 April 2017 04:05 am - 13     - {{hitsCtrl.values.hits}}

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The Cabinet Sub Committee appointed to work out guidelines for leasing out the Hambantota Port, had taken up for consideration, among others, a proposal to reduce the lease term from 99 years to 50 years, it is learnt.

The committee headed by Minister Dr. Sarath Amunugama met last week.

There were a number of proposals put forward to the committee seeking to amend the original draft of the agreement to hand over an 80 percent stake of the port to China Merchants Ports Holding Company.

In addition to reduction of the lease period, it has also been proposed that the Harbour Master should be responsible to Sri Lanka Ports Authority.

Sources close to the Committee said the agreement should be signed, once finalised, between China Merchants Ports Holding Company and a local company registered under the Companies Act here.

That decision has been taken because it is legally impossible to do so with Sri Lanka Ports Authority.

“If we are to do it, we will have to amend the Act concerned,” the source said.

The source said President Maithripala Sirisena also wanted the reduction of lease period to 50 years.

Also, it is proposed that Sri Lanka Navy should provide security to the Port having a base there. In equity sharing, it has to be 60-40 not 80-20 as in the original draft.

“All these proposals are under discussion now. The final draft should be worked out after further deliberations,” the source said. (Kelum Bandara)

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  Comments - 13

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  • Haramanis Monday, 10 April 2017 02:36 PM

    Looks like this is another Hoaxwagon saga. This Govt. seems unable to get its act together.

    Demo Crazy Monday, 10 April 2017 04:17 PM

    love or hate them JO s pressure is working. Better than the lamp posts of SLFP or so called opposition & organizer. via DM Android App

    Selvyn Monday, 10 April 2017 05:17 PM

    This contract should move forward in the interest of the country as SL is burdened with a huge debt caused by the corrupt JO govt via DM Android App

    Sambo Monday, 10 April 2017 06:22 PM

    Volkswagen will not come to Sri Lanka even to mend old tubes, forget assembling of vehicles. They don't deal with Dumbo's .

    Sambo Monday, 10 April 2017 09:29 AM

    As usual. Typical Sri Lankan ways of dung things. You get the investor and then keep on amending until the investor gets sick and tired of waiting and then he goes away. Why the hell don't you first do all the amendments and then look for investors.

    mithra Monday, 10 April 2017 09:51 AM

    I think our government has already becomes a complete joke in the eyes of other countries. It is very shameful and sad to see that Govt.authorities / ministries / committees are unable to take any firm decision on anything at one shot. Every decision, rule ,law, act ,will subject to amendments after it was made public. The reason could be that decisions are taken only by one or two people no matter how many members sit in the committee or team.

    Manel Monday, 10 April 2017 10:49 AM

    It is better to take decisions democratically after much consideration and not on whims of a few who behaved like despots like in the past.

    Auslanka Monday, 10 April 2017 11:11 AM

    People wonder why foreign investment do not come to Sri Lanka. This is a good example. Every agreement has to be redone after initial plan because initial plans are done by incompetent government ministers who are good for nothing.

    Sen Monday, 10 April 2017 11:28 AM

    These report is unclear, minister has failed to declare what has been agreed and amended in comparative terms. Poor show

    Lord Wolfstein Monday, 10 April 2017 11:28 AM

    Deals like this should be done by competent professionals but not by brainless politicians.

    jayasingha Tuesday, 11 April 2017 07:49 AM

    Rushing into things without a proper selection process based on an acceptable criteria resulted in this chaos. They jump in to the sea and then think about lif saving gear.

    Dammika Monday, 10 April 2017 01:17 PM

    Thanks bunch of crooks in so called JO. Anyhow project will go on then when this start to bloom let's wait and see JO's next tune

    Shelly. Monday, 10 April 2017 01:21 PM

    Democratic Management Style is this. Chinese leaders know what it is much better than our Autocrats. via DM Android App


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