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Negotiations soon for war risk exemption

by Ravi Ladduwahetty

The Government would expeditiously commence negotiations with the London based insurance underwriters in a bid to have the war risk surcharge totally exempt as a matter of utmost priority, Minister of Port Development, Shipping, Eastern Development and Muslim Affairs Rauf Hakeem told a news conference at his Ministry office on Thursday.

Addressing the media immediately following his assumption of office, Minister Hakeem said that the Colombo port was the cornerstone of the Sri Lankan economy and the total exemption would also serve as a catalytic role to boost the operations of the Colombo port and allied economic activities.

The Government's persistent efforts in implementing a programme of ushering in lasting peace could also serve as a menage in the total exemption of the war risk premia. However, the negotiations will be independent of the peace process, he explained.

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