ASSET SALES AND CROWD FUNDING
Posted on March 20th, 2017
Dr Sarath Obeysekera
During my regular walk a bird flying over Diyawanna lake whispered to me that ,cabinet intends to decide the fate of Hambantota Project. Instead of giving a whopping 80 % of the ownership of the port to Chinese ,government ( under Yahaplana Pressure) has decided to increase our stake to 40% ,where as 20 % will be owned by SLPA and balance 20% to treasury .This 20% will be divested to local investors in time to come with or without investment ,but at a premium .
All the critics of selling family jewels can now propose following .Rather than one big blue company acquires 20 % at a later stage, government can float the shares on a financing portal base on Crowd Funding
Crowd Funding Definition as follows
“Crowdfunding is the practice of funding a project or venture by raising monetary contributions from a large number of people. Crowdfunding is a form of crowdsourcing and of alternative finance. In 2015, it was estimated that worldwide over US$34 billion was raised this way
Although the concept can also be executed through mail-order subscriptions, benefit events, and other methods, it is now often performed via Internet-mediated registries. This modern crowdfunding model is generally based on three types of actors: the project initiator who proposes the idea and/or project to be funded, individuals or groups who support the idea, and a moderating organization (the “platform”) that brings the parties together to launch the idea
Crowdfunding has been used to fund a wide range for-profit entrepreneurial ventures such as artistic and creative projects, medical expenses, travel, or community-oriented social entrepreneurship and infrastructure projects “
In order to be fair to people who have back money floating around inland revenue should clos either eyes in order to mobilize hidden money by tuition teachers ,consultants ,lawyers and of course politicians
I suggest that all the ventures government plan sell should allocate 20% of the equity to the “people” by hook or crook.Hilton ,Water edge ,Hiat .Lanka Hospitals .and some plantations,.Litro Gas Coal Company ,CPPSTL etc can be sold and people will not complain ,
This is an another step into the utopia of Yahaplanaya ,perhaps ??
Dr Sarath Obeysekera