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The Council
quote s former Chairman Rohan Masakorala told Lanka Business Online that it appears that the London underwriters were dragging their feet on the issue, despite favourable recommendations from the independent foreign security auditors.

rnrnldblquote We asked the Minister to lead a delegation to at least waive the surcharge on Colombo and Galle. At minimum, the delegation should persuade the underwriters to return to pre July 24 position on Sri Lanka
dblquote , Masakorala said.

rnrnPrior to July 24 terrorist attack on the Katunayake Airport, the war risk premium was limited to Sri Lanka
quote s Northern ports. Following the attack, the surcharge was extended islandwide.

rnrnThis surcharge was subsequently lowered on two occasions due to successful diplomatic lobbying and now remains at 0.005 percent of the hull value on vessels calling at the Colombo Port.

rnrnAt the present rate, the surcharge is expected to cause an additional US$ 100 mn expenditure on the country
quote s foreign trade, ac