UNP raises concerns over operations of Selendiva Investments

United National Party (UNP) has urged the Government to publicly reveal details regarding the operations of Selendiva Investments (Pvt) Ltd that was formed to fast-track the ongoing development projects.

Working Committee of UNP expressed concerns that the government is currently attempting to use the ongoing COVID-19 enforced travel restrictions in the country to engage in business ventures related to State-Owned assets.

“At the time of Selendiva Investment’s inception in July 2020, it was tasked with the revival of three State institutions, namely the Grand Hyatt Colombo, Hotel Developers (owning company of Hilton Colombo) and the Grand Oriental Hotel,” a statement from the party said.

However, according to media reports, Selendiva Investments will now be tasked with the ownership and diversification of a collection of State-owned lands and assets including land and buildings belonging to Foreign Ministry, the Air Force Headquarters, and the Bank of Ceylon. Many of these buildings date back to the 19th Century.

UNP demanded government as to whether the relevant legislation regarding Selendiva Investments has been presented to Parliament for their approval. As the Constitutionally empowered body to oversee public finance, it is the prerogative of the Parliament to approve the establishment of such an institution.

Furthermore, the party also asked as to what guidelines have been enforced which will govern the operations and appointments to this company.

“The sovereignty of Parliament has once again been threatened by the creation of such a company. Will this politically appointed Committee be accountable to Parliament?,” the party asked.