Published On : Sat, Aug 27th, 2016

Cabinet Paper for the sale of the Port – 85% to India

3b218c12d612ab1f1cf2eecd3bf6bbec_LIt is reported that a cabinet paper has been submitted for the sale of the Eastern terminal of the Colombo Port. The Cabinet paper has been presented on June 22, 2015. On June 03 the same year, Finance Minister Ravi Karunanayake’s recommendations were also said to have been received.

It is also said that although the government had planned to hold onto 51% ownership, the situation has now changed.

According to the port internal sources, the current situation is that the government has decided to hold onto 15% of the Eastern terminal of the Colombo Port, while the rest is to be given to India.

It is also reported that tenders had been called on June 06 for the sale of the Eastern terminal of the Colombo Port.

Decision by Ranil, Malik and Ratwatte.

It is also believed that the decision to sell the Eastern terminal of the Colombo Port was a decision taken by Prime Minister Ranil Wickremasinghe, Minister Malik Samarawickrema and Charitha Ratwatte.

There is also speculation that the decision to give the port to India was taken, to counter India’s disapproval over handing over the Colombo Port City project to China.

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