A discussion was held this morning (04 Mar) at the Presidential Secretariat under the leadership of President Anura Kumara Dissanayake regarding the possible impact on Sri Lanka’s economy due to the current war situation in the Middle East and the urgent measures that should be taken to manage it.
The President pointed out that although future developments cannot be predicted, continuous attention must be paid to new developments in every sector, and collective action must be taken to overcome these challenges.
Lengthy discussions were held on the challenges that may arise in relation to fuel and gas, the need for stock management, as well as possible impacts on tourism, exports, investments, and food security, and the steps required to manage inflation while minimizing the impact on Sri Lanka’s economic stability and the daily lives of the people.
Although current fuel reserves are sufficient, attention was drawn to maintaining necessary stocks in view of possible risks ahead, managing them, and addressing fluctuations in global fuel prices. The President also examined the measures needed to manage these situations.
Attention was also paid to problems arising from inadequate storage facilities for maintaining gas reserves and to short‑term strategies that could be adopted to resolve them.
The possible impact on Colombo Port due to disruptions in maritime navigation caused by closures of locations such as the Suez Canal and the Hormuz Strait was also discussed. The President emphasized the need to provide facilities requested by shipping companies working with Sri Lanka over the long term to minimize such impacts.
The Secretary of the Ministry of Trade, Commerce, Food Security and Cooperative Development stated that although adequate food reserves are currently available in the country, plans have been prepared to take necessary steps considering possible risks ahead.
The President instructed relevant authorities to ensure facilities for tourists already affected, noting that most tourists arriving in Sri Lanka from Europe travel via the Middle East. Officials from the Ministry of Tourism explained that discussions are underway on alternative measures in air travel to sustain the tourism industry, while officials from the Ports and Civil Aviation Ministry clarified steps already taken.
The President also drew attention to opportunities that may arise in the investment sector, stressing the need for planned action. He instructed the Ministry of Finance to prepare an incentive package for investment promotion using new technologies such as data centres, and to examine measures under the leadership of Senior Presidential Advisor on Digital Economy, Hans Wijayasuriya. (Newswire)