by Kalinga Weerakkody
An urgent meeting was held on Thursday (20) by Minister of Port, Shipping, Eastern Development and Muslim Religious Affairs Rauff Hakeem with officials of the Ministry, Ports Authority, Ceylon Association of Shipping Agents (CASA) and the Shippers’ Council to discuss the manner in which the war risk premium could be re-negotiated with the War Risk Committee in London.

The Minister indicated that a cease-fire has been declared by LTTE. In view of the cease-fire it was his view that the war risk premium should be suspended immediately at least the period of the cease-fire.

He invited views of CASA and the Shippers Council as to how this subject should be immediately addressed to save millions of rupees lost by the country affecting the port as well as the export sector.

Many members of the committee indicated that there were some recommendations made by Lloyds that should be implemented before renegotiating this matter.

At this stage the Minister had stated that he would give immediate priority for the implementation of these recommendations to capitalise on the cease-fire declaration by the LTTE.

The Minister is in the process of contacting the High Commissioner in London to request him to immediately have fresh discussions with the War Risk Committee as to how the War Risk Premium could be suspended at least during the period of cease-fire. During the discussion the Minister had further discussed some aspects related to implementation and efficiency of the port as well.