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Jan 17, 2017

Millions lost after deal with US firm falls through?

Sri Lanka has incurred million dollar loss after a deal between the Ministry of Development Studies and the Washington-based lobbying group Sandler, Travis and Rosenberg (ST&R), has been abandoned, the 'Sunday Times' reports.

The newspaper further reported : 
This is after more than US$ 150,000 or Rs. 22. 5 million of Sri Lankan taxpayer’s money has been paid out to this firm. It is not immediately clear whether the firm ST&R (Sandler, Travis & Rosenburg) was able to deliver tangible results for the money already paid to them.

It is now claimed that one of the aims for hurriedly hiring the firm, when a presidential election campaign was under way in the United States, was to determine whether Sri Lanka could make an entrée into the Trans Pacific Partnership (TPP). This is a massive trade deal agreed to in 2015 by the US, Australia, Japan, Malaysia, New Zealand, Canada, Mexico and other countries to “deepen economic co-operation and boost growth” by reducing tariffs.

However, during the election campaign and even after his victory, President-elect Donald Trump repeatedly pledged to scrap the TPP.


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