• H’tota Port eyed as temporary solution for gas storage
• Explores steps to protect tourism, exports and investment

A high-level discussion was held yesterday (4) at the Presidential Secretariat under the patronage of President Anura Kumara Dissanayake to assess the potential impact of the ongoing war in the Middle East on Sri Lanka’s economy and to identify urgent measures to manage the situation.

The President stressed that although the future remains uncertain, authorities must remain vigilant and work collectively to address emerging challenges across all sectors.

During the meeting, attention focused on possible disruptions to fuel and gas supplies, the management of essential reserves, and the potential effects on tourism, exports, investment and food security. Officials also examined how these factors could influence inflation and discussed strategies to mitigate such risks.

While current fuel reserves were reported to be sufficient, officials held detailed discussions on maintaining adequate stockpiles and managing them effectively in the face of possible future disruptions. Concerns were also raised about potential delays in upcoming fuel shipments and the resulting impact on domestic fuel prices.

The President instructed officials to prioritise measures to control inflation while minimising any adverse impact on the economic stability achieved so far and on the livelihoods of ordinary citizens.

The discussion also highlighted challenges arising from insufficient storage facilities for gas reserves. As a short-term measure, the possibility of utilising the Hambantota Port to address this issue was considered.

Officials further discussed the need to provide facilities to shipping companies with long-standing operations in Sri Lanka in order to prevent possible congestion at the Colombo Port, particularly in the event of disruptions to maritime routes such as the Suez Canal and the Hormuz Strait.

The Secretary to the Ministry of Trade, Commerce, Food Security and Cooperative Development noted that current food reserves remain adequate, but preparations are under way to address any potential risks.

Officials from the Tourism Ministry also warned that most European tourists travel to Sri Lanka via the Middle East, prompting discussions on alternative air routes to minimise disruptions to the tourism sector.

The President also instructed the Finance Ministry to examine the preparation of a relief package to encourage investment, particularly in emerging sectors such as data centres, under the guidance of Senior Advisor to the President on Digital Economy Hans Wijayasuriya.