Losing ECT is a loss for SLPA; warns JVP

Losing ECT is a loss for SLPA; warns JVP

Losing ECT is a loss for SLPA; warns JVP

Written by Zulfick Farzan

22 Jan, 2021 | 1:31 pm

Colombo (News 1st); The JVP has questioned the motives of the Sri Lankan government to release 49% of the East Container Terminal for investments.

There will be no dollar influx in Sri Lanka when local investors are brought in, said K. D. Lalkantha, the JVPs Politburo member.

Sri Lanka is currently facing an issue with dollars and therefore, in the absence of a local investor, it is obvious the 49% stake of ECT would see the intervention of foreign nations, said Lalkantha adding this can be termed as a foreign invasion.

Sri Lanka will have to source US Dollars, but releasing the East Container Terminal is not the correct path to do so, he said.

K. D. Lalkantha said it is paramount to call for the ‘Sea of Sri Lanka’ to be introduced adding it is only the East Container Terminal in Sri Lanka that has the necessary depth to accommodate large cargo vessels.

If Sri Lanka loses ECT, the Sri Lanka Ports Authority will be a governing body with no vessels to its name.

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