Colombo: The Sri Lanka Navy has successfully generated USD 598,250 in foreign exchange revenue over a period of four months by facilitating Onboard Security Team (OBST) operations independently. This revenue has been deposited into the Government Consolidated Fund to aid the national economy and public welfare, as announced during a press briefing at the Department of Government Information, presided over by the Navy’s Director General Operations.
According to Ministry of Defence – Sri Lanka, the transition to independent maritime security operations was initiated following a Cabinet decision on July 25, after a proposal was submitted on June 25. This strategic shift was aimed at strengthening national security and boosting the domestic economy. Further legal support was provided when the President, utilizing powers under Section 21(1) of the Navy Act, issued a Presidential Order on August 10. This order classified the maritime security operation project of the Sri Lanka Navy, which provides services to Foreign Private Maritime Security Companies (PMSCs), as a “non-naval duty” focused on national interest. This directive was formally published in Extraordinary Gazette No. 2449/27 on August 13.
In compliance with this mandate, the Sri Lanka Navy launched independent maritime security operations on October 3, by forming agreements with foreign PMSCs. The full revenue generated from these operations is directed to the Consolidated Fund to support national economic and public welfare initiatives.
The Sri Lanka Navy is well-equipped with the necessary physical and human resources to conduct such maritime security activities independently, allowing for the expansion of these services with minimal additional costs. Since September 2009, the Navy has also been involved in storing arms, ammunition, and equipment for Sea Marshals engaged in maritime security on merchant ships. These operations were initially conducted with private entities, with the Navy receiving a nominal fee and private entities contributing a minor portion of their revenue to the Government.
From October 3 to February 8, the Sri Lanka Navy carried out 323 maritime security operations, earning a total of USD 598,250. These operations, involving the storage and transportation of firearms, ammunition, and equipment for OBSTs, are strictly supervised by the Ministry of Defence. The logistics are managed with vehicles or crafts provided by local agents of foreign PMSCs, under the direct security and strategic oversight of the Sri Lanka Navy.