UNP calls for transparency in energy sector asset sales

The UNP Chairman Vajira Abeywardena yesterday called on the Government to disclose the rationale behind plans to sell 51% of the Kerawalapitiya West Coast Power to a US-owned company. He questioned as to why the Government was moving to sell key stakes of the national energy infrastructure to foreign companies. 

“At present, 51% is owned by the Government, 27% by the Employees' Provident Fund (EPF), 18% by the Lanka Electricity Company (LECO) and the rest by LTL Holdings (LTL). The people of the country need to know what is happening,” he told journalists at the party headquarters.

Abeywardena stated that during 2015-2019, the former Government had planned to use Liquid Natural Gas (LNG) to serve most of the local power needs.

“The UNP-led Government in 2015 had entered into two tripartite agreements with the Government of Japan and the Government of India for the construction and operation of two power plants. We also entered into an agreement with the Government of China to develop an LNG power plant in the Southern Province. A fourth LNG power plant had also been proposed and an open tender was being called for it,” Abeywardena said. 

He went on to question what happened those agreements, urging the Government for transparency. He also blamed the Government for trying to sell national assets to mitigate the impact of the foreign currency shortage facing the country. 

“Why did the Government decide to sell the majority stake in the Kerawalapitiya energy project? It is very clear that the decision taken by the Government to sell shares in this power plant was a sign that the country does not have any money. We have seen that the Government continues to restrict imports and remittances. This appears to be another futile attempt to increase foreign income.”

He also expressed concerns on activities being handled through Selandiva Investments Ltd., an institute recently established by the Government.