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The Ministry of Foreign Affairs in an effort to save vital foreign exchange has formulated a scheme to acquire buildings housing Sri Lanka Missions abroad through an outright purchase scheme.

The scheme initiated by Foreign Minister Tyronne Fernando under the Government's 100-days program envisages the future purchase of premises housing chanceries and official residences presently obtained by the Ministry on rent, said Minister Assisting Foreign Affairs Lal Daharmapriya Gamage in a press release issued yesterday.

The release said there are 55 Sri Lanka embassies abroad of which 20 are housed in buildings belonging to the Ministry. Out of the official residences of diplomatic staff abroad only 18 are presently owned by the Ministry.

In the case of all other embassies, a sum of over Rs. 750 million is paid to foreign countries yearly as rend, and if this practice is to continue the Government will have to pay a large sum which the country cannot afford in the face of devaluation of the Rupee and increasing rent with the annual valuation. Therefore, the possibility of purchasing necessary buildings for missions was explored and necessary instructions issued to the officials concerned for the full implementation of this program. The ministry expects to make these purchases through a special bank loan scheme obtainable on a guarantee from the Government.

Mr. Gamage stated that reports on the surveys carried out in some selected countries have revealed that the amounts of instalment in repaying the prospective loans would be more or less the same as the amount of rent payable at present. "Now it's time to stop paying rent and start repaying loans", he added. Under this new scheme, Sri Lanka will acquire ownership of the premises concerned within a time limit of 10-15 years. Purchase of buildings in this manner on a long-term and firm basis would be advantageous to Sri Lanka.

As a first step in this direction negotiations have been held to purchase the building necessary for the Sri Lanka mission in Brussels.

The release added that certain countries, particularly Middle East countries allow purchase of premises only on reciprocal basis and therefore, he looks forward to introduce a special scheme for this propose. Identification and development of a suitable site within Sri Jayawardenapura, Kotte for a diplomatic enclave with the collaboration of the Western Province Development Ministry is receiving his attention. 

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