SLPA poised as an exemplary model for SOEs, says its chairman

Keith D. Bernard – the Chairman of Sri Lanka Ports Authority (SLPA), welcoming the attendees as chair, made this comments at the Annual Performance Review Meeting (APRM) of SLPA for the year 2022. The meeting was held on September 14, 2023, at its headquarters in Colombo.Entities incorporated under any statute other than the Companies Act must have an APRM every year where the annual report is presented. The Sri Lanka Ports Authority (SLPA) was established under Act No. 51 of 1970.

In terms of the Guidelines for Corporate Governance of PED Circular No. 1/2021 dated November 16, 2021, it is important that the State-Owned Enterprises (SOEs) maintain continuous communication with their stakeholders at all times through mandatory requirements such as the Annual Report. Such disclosure of information ensures transparency and accountability without compromising any statutory or operational requirements of the entity.

Speaking at the event, the Chairman of SLPA expressed his perspective on the organisation’s future direction. He acknowledged SLPA’s recent achievements and progress in completing the East Container Terminal (ECT) and stressed the need for strategic planning with government support for the future.

“At present, SLPA serves as the regulator, operator, and landlord of our ports. In our capacity as the landlord, we possess assets throughout the country, and all commercial ports fall under the purview of SLPA. Additionally, we compete directly with private operators as operators ourselves. Therefore, we must carefully consider whether our role as operators should remain independent or involve collaboration with other operators. It’s crucial that we approach this strategically and define our precise role in this sector for the future,” he said.

Bernard also highlighted the significance of conducting a self-assessment in the pursuit of good governance within the organisation.

“We have commendable ministerial support and boast a talented team of dedicated professionals who tirelessly work towards the success of our port. While we have encountered challenges in the past, we are confident that, leveraging our strengths, we can overcome any hurdles. SLPA has the potential to serve as an exemplary model for the private sector, leading the way and becoming a guiding beacon for all institutions in Sri Lanka,” he said.

The Additional Director General of the Department of Public Enterprises – B.A.T. Rodrigo, commenting at the event, mentioned that in comparison to the other state-owned enterprises (SOEs) in Sri Lanka, SLPA is the leading SOE amongst them and has been a role model to other SOEs. He wished SLPA would continue doing so in the future. He also thanked the Chairman, the Board of Directors, and the Management of SLPA for arranging the APRM adhering to the good governance guidelines.