Cancel Krrish deal - Harsha

UNP MP Dr. Harsha de Silva yesterday claimed that India’s Krrish has continued to fail to live up to its undertaking given hence the Government must cancel it.

Following is the full statement from MP de Silva.

By Extraordinary Gazette 1778/3 dated 1 October 2012 the Government announced a large number of benefits to a company called Krrish to build four high rise buildings at Transworks Square, on an unsolicited proposal, citing it as a ‘strategic investment’. These benefits included 25 year tax breaks on income, on dividends to shareholders, on PAYE by employees as well as exemptions on withholding tax, on VAT and on PAL and also from customs duty.  Furthermore the government handed over the Transworks Building free to this investor on his promise to build the promised four towers.  On 24 November 2012 Minister Lakshman Yapa Abeywardena gave an assurance in Parliament that Krrish Group would complete its payments by 15 December.  Now almost six months on the payment has not been completed and the rumor is that the design has changed significantly and the original four towers have been reduced to a number that has not been disclosed.  Under these circumstances the government should cancel this unfulfilled agreement and call for open transparent tenders for the property.