<span style="color: #222222;">A Sri Lankan media report has caused a fluster saying that the 99 year lease of Hambantota port is extendable and that President Gotabaya Rajapaksa was revisiting the Hambantota port deal. The report quoting Sri Lankan Foreign Affairs Minister Dinesh Gunawardena revealed that previous government had awarded the Hambantota Port to China not only on a 99-year lease, but also provided a provision for extension for another 99 year lease, as explained in the clauses of the agreement between the two countries.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">The same newspaper reported in early February that President Gotabaya Rajapaksa was revisiting the Hambantota port deal and that after many discussions recently with the Chinese officials, has relocated a Sri Lanka Naval base from the Chinese-controlled area of the port.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">China yesterday termed the report running counter to the facts. Reacting on the report about the second 99 year lease clause and Sri Lankan President reviewing the deal, Chinese Foreign Ministry Spokesman Wang Wenbin said in Beijing, Hambantota port is a landmark project jointly undertaken by China and Sri Lanka under the Belt and Road Initiative (BRI) and will play an active role in facilitating Sri Lanka's economic growth and improving people's lives. To a question particularly asking whether China is opposed to re-negotiate the deal by the Sri Lankan Government, Wang said the relevant report runs counter to facts. The Hambantota port agreement between Sri Lanka and China has run into controversies and seen huge protests in Sri Lanka.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">The report in early February quoted the Chairman of Sri Lanka Ports Authority (SLPA), General Daya Ratnayake, as saying that President Rajapaksa after many discussions with the Chinese officials, has relocated a Sri Lanka Naval base from the Chinese-controlled area at the Hambantota port. He also pointed out that Sri Lanka has not gained much from the Hambantota port and the government is holding talks to boost business. He stated that clauses in the port agreement were unclear and the President has been reviewing the deal since taking office in 2019.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">China is one of the biggest investors in various infrastructure projects in Sri Lanka. But, there has been criticism, both locally and internationally, and growing concerns that Sri Lanka has landed into a Chinese debt trap. The 99 year lease of the Hambantota port to China has raised red flags about the downside of the BRI. Reports suggest several countries in Asia and Africa, including Pakistan, reeling under the mounting debt from China. </span><br />'' <br />'' <span style="color: #222222;">Pakistan has opted for the USD 60 billion China-Pakistan Economic Corridor (CPEC) under the BRI. Struggling to pay back over eight billion-dollar Chinese loans and investments, the previous Sri Lankan Government has handed over the majority share of the Hambantota port to a Chinese state-owned company on a 99 year lease to raise USD 1.2 billion. As per reports, Pakistan is also seeking to reschedule as much as USD 22 billion loans.</span><br />''