Special discussion chaired by the President to safeguard Sri Lanka’s economy

2026-03-04 - 15:48

A special discussion was held this morning (04) at the Presidential Secretariat under the patronage of President Anura Kumara Dissanayake to examine the potential impact on Sri Lanka’s economy arising from the current war situation in the Middle East and to identify the urgent measures required to manage it. The President emphasised that although future developments cannot be predicted with certainty, it is essential to remain continuously vigilant regarding emerging trends across all sectors and to collectively address this challenge. The meeting focused on possible challenges relating to fuel and gas supplies in the coming period and the management of necessary stocks. Attention was also directed towards potential impacts on tourism, exports and investment, as well as issues concerning food security and the possible effect on domestic inflation, together with measures required to manage such risks. The President instructed officials to concentrate on mechanisms to control inflation while minimising any adverse impact on the economic stability Sri Lanka has presently achieved and on the day-to-day lives of the public. Although current fuel reserves are deemed sufficient, attention was drawn to maintaining adequate stocks in view of potential future risks, managing supply accordingly, and monitoring possible fuel price fluctuations in the global market. The President also reviewed the necessary steps to address these concerns. Discussions were further held on issues arising from insufficient storage capacity in maintaining gas reserves, possible solutions, and short-term strategies that could be adopted in this regard. Attention was also paid to the potential impact on the Port of Colombo resulting from disruptions to maritime traffic in the event of closures of the Suez Canal and the Strait of Hormuz. In this context, consideration was given to the feasibility of providing the necessary facilities requested by long-standing shipping companies operating in Sri Lanka in order to minimise any adverse effects.