Setting Sail

The Sri Lanka Ports Authority estimates a Rs. 3 bn profit for 2003 as a result of restructuring measures adopted last year.
Revenue for the first six months is already 18 per cent up from a provisional Rs. 983 million for the calendar year 2002 with turnover at around Rs. 15 bn.rn

rnProfits for 2001 was at Rs. 267 mn.rn

rnThe Port will also shed a further 4000 workers in 2003, under a second phase early retirement scheme.rn

rnInternal funds of around Rs. 2 bn is needed to fund the early retirement scheme, with the cost recovered over three years.rn

rnUnder the first phase 3400 workers opted for the voluntary retirement scheme. Internal funds to the tune of Rs. 2.2 bn went out as compensation payment. rn

rnThe second phase VRS will include an attempt to shed part of its employees attached to its Trincomale Port.rn

rnOfficials say the Trincomale port employed around 1000 workers, an excess of 600 workers as per present workloads. rn

rnSLPA Chairman Parakrama Dissanayake says the lquote righ