Sectoral Oversight Committee recommends not to privatise SLT

The Sectoral Oversight Committee (SOC) on National Security has recommended that Sri Lanka Telecom (SLT) should not be fully privatised as it would threaten national security.

In its report on "The effects of the privatization of Sri Lanka Telecom on National Security," which was presented to Parliament today by Committee Chair Sarath Weerasekara, the Committee points out that SLT is already partially privatized with international companies holding 44.98% of the stake and government holding 49.5%.

"Further privatization would expose the countries [sic] critical communication infrastructure / sensitive information to private entities whose profit oriented interests can compromise national security. Hence privatization of Telecom is not recommended," the Committee has stressed. 

The Committee has added that anyone/organization who had been blacklisted/helped terrorists/extremists in any form should not be allowed to buy any share and have any control over the country's national assets. 

The State can buy back the other large shareholder of Telecom as provided for in the agreement, divide the segments into sensitive & vulnerable, excess lands & buildings, critical infrastructure and the business. Whilst retaining the first segments affecting national security, the State can divest the others holding a major share through Private Public Partnership, ensuring critical infrastructure is protected and all government regulations are adhered to. This way the government can exit from doing business whilst making a profit and ensuring National Security, says the Committee.