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Sri Lanka Navy earnings from OBST operations reach Rs 3 billion

Sri Lanka Navy earnings from OBST operations reach Rs 3 billion

February 17, 2017  09:11 am

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The Sri Lankan Navy says it has earned the national coffers over US$ 20 million to-date, since taking over the duty of facilitating On-board Security Teams (OBST), nearly 15 months ago. 

“The duty undertaken was an extension of maritime security operations in which the Navy got actively involved in keeping our waters safe and secure for maritime commons and freedom of navigation.”

At the existing currency exchange rate, the earnings amount to a staggering Rs. 3 billion, through OBST operations from mid November, 2015. The earnings had come across from over 8,200 ship movements predominantly through Galle and Colombo operations centres, SLN said in a statement. 

Accordingly, the Navy facilitates 550 OBST moves at an average, earning approximately Rs. 200 million per month.

The Sri Lanka Navy took over OBST duties following a special directive by President Maithripala Sirisena. 

The earnings are directly deposited in the Consolidated Fund of the Government.

Sri Lanka Navy is responsible of receiving, storing and issuing of weapons, ammunition and equipment registered with foreign and local On-board Security Teams (OBST) who operate for merchant shipping companies.

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