Daily News Online

DateLine Wednesday, 28 March 2007

News Bar »

News: Democracy vibrant in Lanka despite conflict ...           Political: Consider country's interest first, President tells media ...          Financial: Economic targets still within Sri Lanka's reach - CB Governor ...          Sports: Sri Lanka-S.Africa game should see a keen contest ....

Home

 | SHARE MARKET  | EXCHANGE RATE  | TRADING  | PICTURE GALLERY  | ARCHIVES | 

dailynews
 ONLINE


OTHER PUBLICATIONS


OTHER LINKS

Marriage Proposals
Classified
Government Gazette

No breakdown of trade and commerce by terrorist attacks

COLOMBO: The Government is well-equipped to meet any challenge posed by LTTE attacks and is geared to ensure the smooth functioning of trade and commerce even in the midst of such attacks as witnessed yesterday.

The Secretary of the Trade, Commerce and Consumer Affairs Ministry, Dr. R. M. K. Ratnayaka assured there would be no indemnity demands by shipping giants for huge sums as insurance securities to dock their ships in Sri Lanka as happened following the terrorist attacks on the Bandaranaike International Airport in July 2001.

Dr. Ratnayaka said, "then the Treasury had released an indemnity of US$ 10 million to the Lloyds of London and said that we would pay any damage caused to their ships." "Thus the matter was resolved," he said.

Referring to the Monday's LTTE attack, the Secretary said, "I do not know how Lloyds of London would look at the present LTTE attack on SLAF base but their view will be based on the risk involved in bringing their ships," he said.

"However, I can say that the Treasury is well-prepared to deal with any situation. We have set apart enough financial reserves to deal with such situations," he said. Asked if this can have any adverse effects on consumers with the New Year around the corner, Dr. Ratnayaka said, "If the LTTE did this to cause a food scarcity during the Sinhala/Tamil New Year with a view to cause hardships to the public, their attempt is futile because we have more than enough provisions of essential food items imported to the country.

"We have 100,000 metric tonnes of sugar, plenty of dhal. There is no need to increase prices of these items over this isolated incident," he pointed out.

Sources at the Trade and Commerce Ministry said that if the ministry had to comply with the shipping companies' demands for insurance security, this will have no effect since there are already ample stocks.

EMAIL |   PRINTABLE VIEW | FEEDBACK

Gamin Gamata - Presidential Community & Welfare Service
www.greenfieldlanka.com
www.buyabans.com
Villa Lavinia - Luxury Home for the Senior Generation
www.lankapola.com
www.srilankans.com
www.topjobs.lk
www.peaceinsrilanka.org
www.army.lk
www.news.lk
www.defence.lk
www.helpheroes.lk/

| News | Editorial | Financial | Features | Political | Security | Sport | World | Letters | Obituaries | News Feed |

Produced by Lake House Copyright © 2006 The Associated Newspapers of Ceylon Ltd.

Comments and suggestions to : Web Editor