Colombo port income used for H’tota loan settlement: Minister

Though the Colombo Port has earned an income of Rs.26 billion this year, a significant portion of it will go to settle a loan obtained from the Chinese government for the construction of the Hambantota Port, Ports and Shipping Minister Arjuna Ranatunga today said.

Addressing the media in Colombo Port, after ceremonially marking the handling of the five millionth container at the port, the minister said the means to improve the welfare of port employees had also been hindered because of the issue.

“Even with inadequate and old equipment, the efforts of our employees had borne fruit. That’s why we have been able to handle more containers than last year.  Though we have earned Rs.26 billion this year, we have to utilize them at harbours where there are losses and Hambantota Port is the main issue. We will have to keep paying for years to settle the loan obtained for that harbour,” he said. (Lahiru Pothmulla)