People should enjoy fruits of state asset development: New Petroleum Minister Ranatunga

By Himal Kotelawala

Newly-appointed Petroleum Resources Development Minister Arjuna Ranatunga yesterday refuted allegations of selling the Trincomalee oil tanks, dismissing it as a myth propagated by “political refugees.”

At a press conference held after assuming duties at the Ceylon Petroleum Corporation premises, the Minister said the oil tanks in question are being leased and not sold. A framework is need, he said, to develop state assets through private investments while securing the country’s ownership of those assets.

“For example, the Sri Lanka Ports Authority (SLPA) has two private terminals, with the SLPA owning 15% shares. One was given under Former President Chandrika Kumaratunga, the other under Former President Mahinda Rajapaksa. At the end of 35 years the terminals will come under the ownership of the harbour. This is the kind of framework we need to create,” said Ranatunga.

In order to modernise the CPC oil refinery, investors would have to be invited; but while that investor is earning revenue, the property should remain under the ownership of the people, further Ranatunga.

“I can’t protect these [institutes] alone. Nor can [Deputy Minister Dr. Anoma Gamage]. We must all come together for this,” he added.

While it’s perfectly acceptable for investors to turn a profit, he went on to say, the people must ultimately enjoy the fruits of those investments.

Asked if he was removed as Minister of Ports and Shipping due to his opposition to the proposed sale of the Hambantota deep sea port, Ranatunga said: “Do you think [that was the case]? People say things, but I have to do the right thing. I’ve always maintained that we are temporary tenants at these places.”

The initial agreement for the Hambantota was for 199 years, he said, adding: “We requested to bring it down to 99 years. My proposal was to bring it down further, to 35, to 50 years.” The Ministry also managed to secure more money from the investor, he said.

“The politics my father taught me was about putting an end to stealing, and running the institution assigned to you the correct way. As a politician, he won the trust of this country as a man who never stole. I have to do the same,” he added.

Touching on his new job, the Minister said that Petroleum Resources Development was a crucial ministry that could decide the country’s future and demands special attention.

“I have been entrusted a huge responsibility. This was probably given to me due to the victories made by the Ports and Shipping Ministry,” he said, recalling the profits of Rs. 6 billion and Rs. 11 billion recorded in 2015 and 2016 respectively.

“We cut unnecessary costs and lowered expenditure in 2016 compared to 2015. We stopped thievery, too. That was my biggest victory at the Ministry. I was also at the forefront of protecting our harbours. The people of this country elected us to develop the country. I agree that investors are necessary but I’m not for investors having their way and robbing this country’s resources,” said Ranatunga.

“The SLPA was a den of thieves when I took over. We managed to take it out of that. Mahinda Samarasinghe is a capable minister. He can take the rest of the program forward. We have laid the foundation for him to do that,” he added.

Ranatunga also remarked that the Government’s inability to communicate its more salient initiatives to the masses is one of its biggest weaknesses.

“This Government doesn’t come out and talk about the good work it’s been doing, so the people have no idea. We don’t want to make a big deal out of everything. We’re only here as temporary tenants. Tomorrow we might have to relinquish these ministries. My hope is to carry out the responsibility entrusted to us,” he reiterated.