Vasu now after SAGT privatisation
View(s):Vasudeva Nanayakkara, a combative and spirited Minister in President Mahinda Rajapaksa’s cabinet, is at it again: This time he is probing the privatization and creation of the South Asian Gateway Terminals Ltd (SAGT).
In a September 18 letter to the Treasury Secretary, Mr Nanayakkara, Minister of National Languages and Social Integration but better known for his campaign against the privatization of Lanka Marine Services, has asked for details of the Colombo Port operations and handing over a section of the business to the SAGT.
He has asked for the terms, conditions ‘upon which and price at which the said part of the Colombo Port was privatized, and the investments made by the private sector in this project in foreign exchange and local currency’.
He has also asked whether any state controlled finances were borrowed for the development of this part of the Colombo Port, and if so how much and over what period had they been re-paid and with what interest?
“also indicate the revenues earned by the above project after the privatization and the revenues earned by the Government from the said project after privatization, and as to whether any Tax Holidays and other concessions had been granted to this project, and if so, the cost to the State of such concessions,” the letter said.
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