'President's intervention saved Maga Neguma from privatization'
Suranjith PERERA Dehiwela-Mt. Lavinia Group
State Institutions were subjected to various kinds of privatization
since 1981. Maga Neguma Emulsion Production Company (Pvt) Ltd, RCDC was
closed down in 24 hours during the UNP regime. It was to be privatized
with all the machinery and equipment worth millions of rupees, said
Highways and Road Development Minister T.B. Ekanayake.
Highways and Road Development Minister T.B. Ekanayake,
Minister A.H.M. Fowzie and Chairman B.R. Perera along with
the Board of Directors of the Company at the Maga Neguma
Emulsion Company (Pvt) Ltd premises. Picture by Suranjith
Perera |
When this Government came to power in 1994, President Mahinda
Rajapaksa as the then Highways Minister saved this company from being
privatized and reestablished as a Government institution by creating
three institutions under Maga Neguma concept, the Minister said.
It was saved and reestablished as Maga Neguma Emulsion Production
Company (Pvt) Ltd by President Mahinda Rajapaksa when he was Prime
Minister during the previous regime. This company is now playing a
significant role in the country's road development activities while
achieving international quality standard with certification, Highways
and Road Development Minister T.B. Ekanayake said at the fifth
anniversary celebration of the Maga Neguma Emulsion Production Company (Pvt)
Ltd held at Angulana Road, Ratmalana last Wednesday.
No State institution has undergone privatization under the Rajapaksa
Government despite efforts by International Monetary Fund and World Bank
with their novel methods and schemes to generate income. The future of
these employees who are devoted to their duties are well-secured, the
Minister said.
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