Among the physical assets owned by Sri Lanka Telecom (SLT) to be sold, it is reported that the most valuable asset is the cable system consisting of five underground cables (submarine fiber optic cable system) that provides communication facilities from Sri Lanka to foreign countries.
Meanwhile, it was reported that both Malaysia and India are trying to buy the SLT.
However, it is said that if SLT were to sell the 49.5% shares owned by the government, Malaysia’s Global Telecom Holding (GTH), which owns 44.98% of the SLT, should first be invited.
According to the SLT Privatization Agreement, shares of GTH owned by Malaysian Tamil Buddhist Ananda Krishnan of Sri Lankan origin and the Sri Lankan Government are prohibited from being sold to third parties.
The government can sell its 49.5% stake to a third party only if the Malaysian company refuses to buy the shares.
Lalitha Hewagamage, a social media activist, in a post on his Facebook page said that Malaysia’s Dialog Axiata already owns more than 82.74% of Dialog’s shares. If GTH owns SLT, Malaysia will be the lead telecommunications owner in Sri Lanka.
He said that this is a beautiful acquisition compared to the South Indian, Portuguese, Dutch and English conquests.
He also said that the minions of President Ranil Wickremesinghe are trying to violate the agreement and transfer the shares owned by the government to a third buyer like Lycamobile or Reliance.
Mr. Hewagamage warned that if the agreement is violated, the country will have to pay compensation to GTH in an international court in the future.
He said the amount of compensation could be more than the amount obtained by selling the shares owned by the government.
Who is behind the idea?
Economic experts pointed out that developed countries with large economies have achieved their economic growth by moving to the world of e-commerce.
Accordingly, it is important for the government to have a stake in the country’s communication system to develop a country.
Meanwhile, security analysts pointed out that India is already working carefully to acquire the printing of national identity cards and its database, and its second step is to take over the national communication network.
Indian wolves vying for SLT
It has been confirmed that Reliance company owned by the Mittals family, as well as Jio company owned by Mukesh Ambani and Lycamobile owned by Subaskaran Aliraja are interested in buying SLT.
Reliance also owns Airtel in Sri Lanka.
Rohan is the most unsuccessful chairman…
Meanwhile, SLT trade unions said that current Chairman Rohan Fernando is the most unsuccessful chairman in SLT history.
Though the Chairman has told the media how SLT has become profitable, they said he is now silent about selling such a profitable company.
What Nanda Malini said about selling country’s resources:
The National Transport Commission (NTC) has said that an investigation into the recent incident where a student fell from the footboard of a ‘Sisu Sariya’ school bus, has revealed that the accident had resulted from the careless and negligent behaviour of both the driver and the conductor.
Issuing a statement, the NTC noted that, based on the preliminary findings, the Road Passenger Transport Authority of the North Western Province has taken steps to temporarily suspend the services of the driver and conductor involved.
Minister of Agriculture, Livestock, Land and Irrigation – K.D. Lal Kantha has announced that the government has decided to import 300,000 MT of maize.
Speaking to the media after attending a District Development Committee meeting at the Kandy District Secretariat yesterday (July 03), the Minister explained that this decision was taken to prevent traders from artificially inflating maize prices.
He stated that certain large and medium-scale businesses dealing with animal feed have been hoarding maize, buying it from farmers at fair prices and reselling it at much higher rates.
According to the Minister, these traders were trying to push maize prices up to Rs.190-200 per kilogram, which would have driven up the cost of eggs to Rs.200 each and increased meat prices significantly.
The Minister emphasized that while businesses are entitled to make a profit, the government will not allow unfair price manipulation. He also noted that, in the past, even ministers profited from animal products, but those days have ended and racketeers will not be allowed to control the market.
To prevent excessive price drops that could hurt farmers, the Food Security Committee has proposed imposing a tax on imported maize, he said.
