Former TRCSL DG denies Govt. lost Rs. 2 b from Lotus Tower

Wednesday, 18 September 2019 00:00 - - {{hitsCtrl.values.hits}}

Says no payment made to ALIT
Advance payment returned to Chinese company

Former Telecommunications Regulatory Commission Sri Lanka (TRCSL) Director General Anusha Palpita, issuing a statement, denied that a Rs. 2 billion loss was incurred by the Government due to an advance payment for the construction of the Lotus Tower in 2012.

Former TRCSL Director General Anusha Palpita

President Maithripala Sirisena on Monday alleged that the Rs. 2 billion loss took place due to an advance payment being made to a Chinese company for the construction of the Lotus Tower. According to the President, the company was later found by authorities to be untraceable.

Palpita, in the statement, said that the TRCSL had not made any advance payment to the Aerospace Long March International Trade Co. Ltd. (ALIT). According to Palpita, the TRCSL had not made any payment to ALIT under any circumstance.

“A mobilisation advance payment of $15.45 million made to China National Electronics Importers & Exporters Corporation (CEIEC) in 2012. The payment was made with the approval of the Central Bank of Sri Lanka (CBSL) and CBSL Monetary Board. The funds were transferred to CEIEC’s account in China’s Exim Bank,” he stated.

He stated the advance payment was repaid by the CEIEC as interim payments, and therefore the Government had not incurred any loses due to the advance payment. He also noted funds were transferred through China’s Exim Bank and assured that no financial misappropriation had taken place.