How did govt. earn US$1.1 Bn from ‘white elephant’? Namal
Posted on December 9th, 2016

Lahiru Pothmulla Courtesy The Daily Mirror

UPFA Hambantota District MP Namal Rajapaksa today asked how the Hambantota Port, which was branded as a ‘white elephant’ by the United National Party (UNP) when in the Opposition, had now become a paying concern good enough to be sold to a private company.

He condemned the Government’s decision to handover some 80 per cent of the Port to China Merchants Port Holdings Company and said the government was to receive US$1.1 billion by doing so. If the port was making a loss, the government should clarify how it was able to estimate its value at US$1.1 billion,” Namal told a news conference. He said it was uncertain as to what would happen to the funds received from the deal.

The government says it sold the port to settle the debts that had swallowed the country. However, as far as we know, it won’t be used to settle the debt but will go into the hands of an individual,” Namal said.

He said an income of Rs.5,000 million was received from the port during the Rajapaksa government but it had dropped to Rs.2,150 million within one year after the present government.  ()

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