RPCs await official word on lease extension, oil palm ban lift

Sri Lanka’s Regional Plantation Companies (RPCs) are waiting for the official communication on the lease extension and lifting of the oil palm ban, to move ahead with their investment plans. 
“It was reported that an expert committee has made a request to lift the ban but nothing has been officially communicated to us,” Planters’ Association of Ceylon Chairman Senaka Alawattegama told Mirror Business. Similarly, he noted that the RPCs have submitted audit reports to the President’s Office, along with the request, to extend the lease period by 50 years. “The audit reports are with the president and his advisors. We have requested for a 50-year extension,” he added. 
The RPCs were divested to the private sector, with a 50-year lease on land, in the early 1990s. The RPCs have about 21 years remaining in this lease period. Amidst the uncertainties, Alawattegama pointed out that the RPCs remain vigilant in moving ahead with their investment plans. 
The RPCs fear that the upcoming election cycle would delay these decisions.