H’tota Port deal amended again

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

A A A

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)

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 13

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.

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

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 .

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.

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

H’tota Port deal amended again

Comments - 13

Add comment

RECOMMENDED

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Western purple-faced langurs see blue!

Most Viewed in News

Sri Lanka’s Rupee leads emerging markets in 1st quarter of 2024

Belgian traveller scammed in Kalutara

Suspicious death of 23-year-old woman at hotel sparks concerns

23 year old youth ends up having his testicles removed

Train fails to halt, crashes onto Colombo Fort platform

No decision to declare April 15 as public holiday

MIRROR CRICKET

TODAY'S HEADLINES