Approval has been granted to revise the tariff structure of navigation, stevedoring, harbour tonnage, container operations, conventional cargo operations etc, the Finance Ministry’s latest fiscal situation report revealed.

An official noted the SLPA has been directed to improve efficiency and reduce unnecessary costs and eliminate delays to increase its bottom-line.

The total revenue of SLPA during the first four months of 2023 was Rs. 26,79 billion of which 36 per cent came from stevedoring, 24 per cent from navigation and 9 per cent from the wharf.

The gross profit of the SLPA for the first four months of 2023 was Rs.11.48 billion, compared to Rs.14.22 billion in the same period of 2022.

Ports and Shipping Minister Nimal Siripala de Silva disclosed that approval was given for China Merchants Port Holdings leads consortium of investors to invest US$ 392 million to build a South Asia Commercial and Logistics Hub in the port of Colombo