Cost Crackdown

Ishara S. Kodikara | AFP | Getty Images Sri Lanka Prime Minister Ranil Wickremesinghe, center, speaks to supporters at the prime minister's official residence in Colombo on December 16, 2018, after he was reappointed as prime minister by Sri Lanka's president, the same man who fired him from the job nearly two months ago.

Nov 11, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA), which suffered a loss last year, plans to maintain tight control of finances and minimise waste in a campaign to cut costs, its new chairman Priyath Wickrema said. The SLPA would be conducting energy and fuel audits and each of its divisions would have to submit monthly records.

Other measures include minimizing use of petty cash and issuing it only for urgent requirements, and strict budgetary control with supplementary allocation only for essential items. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678

“It is reported that a very high percentage of all resources – men, material and machinery – are not being used properly due to the wrong practices, lack of supervision and delays in decision making at different levels.”

In order to overcome this situation, Wickrema said, outlining a three-year development plan, the authority has introduced new management measures to better monitor and assess use of resources.

“Control of finances is essential in order to meet the (development) targets,” Wickrema said.

“Since the SLPA has to finance a heavy development budget during the next t