President Anura Kumara Dissanayake chaired a special discussion on March 4 at the Presidential Secretariat to assess the potential economic impact of the Middle East conflict on Sri Lanka and identify immediate response measures.

 

Although it is difficult to predict how the situation may escalate, the President emphasized the need for continuous monitoring across all sectors and called for collective action to overcome emerging challenges.

 

Discussions focused on:

 

• Fuel and gas supply management and maintaining adequate reserves

• Possible effects on tourism, exports and foreign investment

• Food security concerns

• Inflationary pressures

 

Officials were instructed to prioritize maintaining economic stability and protecting the livelihoods of ordinary citizens.

 

While current fuel stocks are considered sufficient, attention was given to managing future supply risks and global price fluctuations. Challenges in maintaining gas storage due to limited storage capacity were also reviewed, along with short-term solutions.

 

Possible disruptions to shipping through the Suez Canal and the Strait of Hormuz were discussed, particularly their impact on the Port of Colombo. Authorities also explored providing facilities to long-standing shipping partners if needed.

 

Officials confirmed that food stocks are currently adequate and contingency plans are in place.

 

Given that many European tourists travel to Sri Lanka via the Middle East, alternative aviation arrangements are being examined to ensure continuity in the tourism sector.

 

The President also highlighted the need to attract new forms of investment, including data center projects, and instructed the Finance Ministry to prepare incentive packages under the guidance of Senior Advisor on Digital Economy Hans Wijayasuriya.