Nov 28, 2013 (LBO) – Sri Lanka’s Colombo Dockyard, a ship repair and building firm, found its competitiveness hurt by import restrictions on specialist lubricants. Sri Lanka requires a ‘no objection’ letter from the government to import lubricants as it is a licensed business on which the state has placed import restrictions.
A Dockyard official told a business forum in Colombo that competing countries like Singapore or Dubai could supply any brand of lubricants demanded by ship owners quickly.
Dockyard on the other had faced delays in getting approval to import specialist brands of lubricants.
Petroleum ministry additional secretary Sandya Wijebandara said all efforts would be made to speed up approvals when requests were made.