Controversial privatisation of SLIC and LMS - letter

These days Mr. Wijedasa Rajapakse, the lone campaigner against corruption and the Chairman of the COPE, seems to be the only one interested in bringing to book the hoards of corrupt politicians and government officials who have been swindling billions from the country’s coffers by way of shady privatisation deals.

The largest ones involving highest amount of money are the privatisation of SLIC and Lanka Marine Services. In the case of both these, there was no need for privatisation because these were never burdens on the govt. Both owned priceless assets, near monopoly positions, satisfied staff and above all commendable service standards. No credible reasons were given as to why the then UNP govt. was selling them. The UNP leaders, their cohorts and business associates obviously got round the PERC officials then under K N Choksy, Finance Minister and convinced President Chandrika Kumaratunga to agree to these privatisations at a fraction of the true value. Recent hearings of COPE have put the losses between 15-50 billion rupees and Mr. Rajapakse is fighting a lone battle to get a proper value for these assets to come into govt. coffers.

These days every ordinary Sri Lankan voter is struggling to cope with the high cost of living caused mainly by uncontrolled printing of money to meet budget deficit. It is pathetic to see obviously middle class people looking longingly at stuff they cannot any longer afford to buy at super markets and polas because the prices are now beyond them. The more respectable ones that cannot afford to beg or borrow are worst hit.

All these burdens heaped up on the people could have been avoided if at least the right price was fetched when selling SLIC and Lanka marine Services. At least 50% of the budget deficit could have been covered without burdening the people.

It is still not too late for the present govt. to reverse the decisions to privatize the SLIC and Lanka marine because both have been approved subject to fulfilling certain conditions which remain undone. So without further delay the govt. parliamentarians should right away implement recommendations of Mr. Wijedasa Rajapakse in the COPE Report and pin down the corrupt politicians of the then UNP regime and the former President who approved all that.

At least in this instance President Rajapakse should move decisively because it was not in his “Chinthanaya” to cover up corruption by previous governments and Presidents!!

W.J.Fernando, Mount Lavinia