Sri Lanka's minister of ports and shipping, Mahinda Samarasinghe criticised proposed changes to the shipping sector outlined in the 2018 budget released last week as a move towards liberalisation.
He condemned the proposed plans to allow 100% foreign ownership in the sector as "completely wrong", the FT reported.
"I am totally against this. I cannot allow the local industry to be destroyed. This is the SLFP’s stand. This therefore needs to be discussed with proper information," Mr Samarasinghe was quoted by the paper as saying.
"I believe Minister Mangala Samaraweera will see our point and amend this current proposal. But as I said, earlier if these shipping companies are willing to come, tell them to bring in a minimum $ 100 million FDI, then I can tell our local companies that it is a benefit to our country therefore you need to compete. Let Maersk or Mediterranean Shipping bring FDI. But I will not allow our local companies and industry to be strangled, destroyed and handed over to the foreigners. I want it to be made clear that I will not raise my hand for that. I believe Minister Samaraweera will agree that this proposal needs to be changed. There are two sides to a coin. ”
Mr Samarasinghe was also critical of the government for failing to consult thoroughly enough on the issue.
“This is a Coalition Government. The SLFP is part of this Government. Therefore if they are bringing a proposal like this and if an SLFP Minister is in charge of that subject they need to especially talk to the minister and his ministry. But sadly they did not do this,” Mr Samarasinghe was quoted by the paper as saying on a state TV channel.
“How can I amend a gazette issued by our ministry in 1992 when they have not even discussed it with me? Who else can amend the relevant Gazette? The Finance Ministry cannot do that, if they do that someone can file a case against it since by law I have the authority to make any amendment as Ports Minister, not anyone else.”
