COLOMBO: Sri Lanka Port Authority’s debts have risen to over Rs. 233 billion last year, the Minister of Ports and Shipping Arjuna Ranatunga said.
Speaking at a function at the Sri Lanka Port Authority (SLPA) the Minister refuted the claims made by the former president and current parliamentarian Mahinda Rajapaksa that the Ministry of Ports and Shipping is not suffering losses from the Ports Authority.
On the contrary, the institution’s debt has increased as the SLPA’s expenses have increased, the Minister said.
According to Minister Ranatunga, the SLPA’s current debt at the end of 2015 stands at Rs. 233.746 billion and the debt instalment in 2015 was Rs. 17.85 billion while the government is paying interest of Rs. 6.083 billion.
In 2016, the debt overdue is Rs. 12.584 billion with an Interest payment of Rs. 7.531 billion rupees. The total debt and interest payment is 20,115 million rupees.
The Minister said it will take until 2039 to finish paying off the debts incurred by the SLPA.
