19 June 2023
The Sri Lankan government has been advised by the Sectoral Oversight Committee to not pursue privatisation of state-owned Sri Lanka Telecom (SLT-Mobitel), stating national security concerns..png?lu=292)
According to the committee, the privatisation would expose the country’s critical communication infrastructure/sensitive information to private entities whose profit-oriented interests can compromise national security. The committee added that companies or individuals that have been blacklisted or aided terrorism should not be allowed to buy shares or have control of national assets, urging the government to consider buying back the other large shareholder.
The committee recommend: “whilst retaining the first segments effecting national security, the state can divest the others holding a major share through Private Public Partnership ensuring critical infrastructure is protected and all government regulations are adhered to. This way the government can exit from doing business whilst making profit and ensuring national security.”
