Minister keen to protect local players

29 November 2017 03:23 am - 11     - {{hitsCtrl.values.hits}}

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Ports and Shipping Minister Mahinda Samarasinghe said yesterday he was opposed to the budget proposal which opens the shipping industry to international players.

He stressed the need for the Finance Ministry to discuss this proposal with the shipping ministry before implementing it.

The minister who took part in the committee stage debate on the budget said opening of the shipping industry would affect the local players in the industry.

"I am opposed to this proposal as a member of the Sri Lanka Freedom Party (SLFP) which is committed to safeguarding local entrepreneurs," he said and added that even President Maithripala Sirisena was of the view that the local players should be safeguarded.

However, the minister said international investors should be allowed to enter the shipping industry subject to conditions while bring in a prescribed amount of investments.

"However, we are confident that the Finance Minister will look into this matter and make the necessary amendments to the budget proposal," the minister said.

Responding to an allegation made by joint opposition MP Sriyani Wijewickrama that the Hambantota Port Deal was not beneficial to the country, the minister said he managed to convert it into an agreement beneficial to Sri Lanka. He said arrangements had to be made to repay the commercial loan taken by the previous regime to construct the Hambantota Port. (Yohan Perera and Ajith Siriwardana)

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  Comments - 11

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  • alex Wednesday, 29 November 2017 09:25 AM

    why "protection"only for local shipping industry? don't the other local industries like foot wear, construction, consultancy, insurance etc. need protection

    Leo Wednesday, 29 November 2017 10:42 AM

    Any industry that can create national wealth needs some protection and help. Unfortunately most industries are dead now and there are trying to kill the local shipping industry next

    nick Wednesday, 29 November 2017 10:19 AM

    so then which local player promised u the commissions that if u stop the foreign players come to action via DM Android App

    ceylon Wednesday, 29 November 2017 10:30 AM

    to safe guard local industryhelp them to upgrade their products quality.trying to save local industry mean block quality foreign products and force people to buy local garbage. via DM Android App

    Liberal One Wednesday, 29 November 2017 12:45 PM

    This is the same set of argument put forward in 1977. 40 years later we are a country that imports everything and exports our people. why should we continue the same failed path?

    Nish Wednesday, 29 November 2017 10:45 AM

    The notion that if we destroy all our industries and open up everything to foreign investors and they will create wealth for us is out-dated. We need thriving local industries.

    rew Wednesday, 29 November 2017 12:19 PM

    Good sentiment, but will our people deliver? Don't think so.

    Libtard Wednesday, 29 November 2017 12:46 PM

    well not to the corrupt officials and politicos on multinational payrolls

    indika Wednesday, 29 November 2017 11:50 AM

    how the hell economy going to develop if we don't open up. just talking without thinking practically. how the hell government going to make Sri Lanka a shipping hub if you prevent outsiders coming. widen your scope my friend. if cannot get young blood in who can think positively and proactively.

    Burnt Wednesday, 29 November 2017 12:43 PM

    Outsiders will invest make profits and then take back the profits. Whats the point of been a hub if it doesn generate revenue for our companies?

    Eric Wednesday, 29 November 2017 12:38 PM

    This man has no brains. Even cannot explain himself properly. Ruined the Geneva discussion's too. FM please do not giving these fools.


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