Ranil proposes advisory body comprising foreign experts for Port City

Former Prime Minister Ranil Wickremesinghe who proposed an amendment to the Colombo Port Economic Commission Bill over the weekend said there can be an advisory body comprising foreign experts while the Commission should comprise ex-officio members such as the Central Bank Governor.

Mr. Wickremesinghe who was speaking during a webinar organised by the Ceylon Chamber of Commerce said one should have ex-officio members who are mainly government officers as there are capable persons in that particular sector.

“It was senior state officers in the financial sector who were to stabilise the economy during the previous regime when the private sector did little.therefore I would say that ex-officio members such as the Central Bank Governor should be made members in the Commission that will administer the Colombo Port City.you can have an advisory body with foreign experts as well. When it comes to the persons who represent the commission, you have to decide whether you want a person who could attract the markets or whether you need someone who had handled such an offshore centre before,” Mr. Wickremesinghe said.

“One could also have a gaming authority but gaming should not be handled by BOI. You may also have to amend the gaming laws in order to prevent money laundering.

Also, he said the government should have a game plan.“you need to decide whether you are going to have a specialised economic zone or whether you are going to compete with China, Dubai or any other offshore facility,” he said.