Parliament Panel Raps Ports Ministry Over Regional Losses 📈

• Overall Performance: The Sri Lanka Ports Authority (SLPA) reported a strong 2025 financial year with a Profit Before Tax (PBT) of Rs. 56 Bn (up 20% YoY) and a Net Profit of Rs. 42 Bn, marking a sharp 111% growth. • Governance Issues: The Parliamentary Sectoral Oversight Committee (SOC) criticized the Ports Ministry Secretary for non-compliance and failing to submit strategic plans for regional ports despite repeated directives over six months. • Regional Port Breakdowns: Port of Galle: Recorded a direct loss of approximately Rs. 200 Mn. However, it generated Rs. 1.1 Bn in indirect value through marine services, servicing roughly 500 ships per month. Trincomalee & Kankesanthurai (KKS): KKS remains loss-making despite increased activity in 2025. Trincomalee is seeing investor interest, but the SOC demanded structured, transparent frameworks for future agreements. • Strategic Outlook: The government is moving toward a Request for Proposals (RFP) process to involve private sector participation in regional ports. The SOC's primary objective is to transition loss-making state assets toward profitability or sustainable loss levels through stricter institutional accountability.