SLT shares: Govt rejects allegations

Ranil Wijayapala and Irangika Range

KOTTE: Leader of the House, Healthcare and Nutrition Minister Nimal Siripala de Silva totally rejected the accusation levelled against the Government with regard to the selling of Sri Lanka Telecom shares vested within NTT company of Japan to Malaysian based Global Telecom Holdings.

He also stated that Government will come out with a comprehensive reply regarding these allegations during the full day debate on the Telecom issue.

The Leader of the House agreed with JVP MP Wimal Weerawansa’s request to have a full day debate. Minister Nimal Siripala de Silva said JVP Parliamentary Group Leader Wimal Weerawansa can bring the matter before the commission to Investigate Bribery if he has reliable evidence to prove someone from the Government engaged in an undue transaction to give approval to sell the shares to the Malaysian company.

Expressing views Posts and Telecommunications Minister Rauff Hakeem said no final decision has been taken with regard to the sale of NTT shares to Global Telecommunications Holdings of Malaysia.

He said the Cabinet has appointed a committee to look into the matter and they are yet to come out with their observations.

Acting Finance Minister Ranjith Siyambalapitiya, explaining the situation, during his speech said the NTT company which holds 35.2 per cent of shares of the Sri Lanka Telecom has proposed to sell 25.3 per cent shares to Global Telecommunications Holdings with the right to nominate a director to the SLT Director Board.

He said the Treasury has already informed the NTT; since SLT is a Government listed company the sale of shares of the SLT should be done according to the laws stipulated in the Colombo Stock Exchange and the Securities and Exchange Commission. He said there is no decision to sell shares held by the Government in Sri Lanka Telecom.