SLPA officials propose USD payments

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Newly appointed Minister of Ports and Shipping Premitha Bandara Tennakoon met stakeholders in the shipping industry and Sri Lanka Ports Authority (SLPA), to encourage payments to be made in USD.

In a bid to increase revenue in US dollars, SLPA officials have proposed dealing in dollars.

According to SLPA, the initiative will result in converting payments paid by shipping lines to SLPA from local currency to US dollars. Therefore, revenue collected in USD will exceed 100 million per annum. The initiative has been planned to be implemented from 1 June this year, SLPA said.

BY Sulohana Ramiah Mohan