Financial Times

Questionable privatizations, says Vasu

Petitioner in the Lanka Marine Services Ltd (LMSL) privatization, Vasudeva Nanayakkara told The Sunday Times FT this week that there are at least 41 questionable privatizations where there are instances of malpractice, deception, cheating and robbery. Mr. Nanayakkara said he is planning on filing other fundamental rights petitions but much depends on the availability of resources and lawyers.

Mr. Nanayakkara filed the LMSL fundamental rights petition in January 2008, alleging fraud and corruption and loss of revenue to the Sri Lankan government. The Supreme Court judgment in the case which was delivered in July 2008 confirmed the findings of the petitioner and led to the resignation of the former Treasury Secretary Dr. P.B. Jayasundera who was found to have played an instrumental role in the controversial privatization and declared unfit by the Court to hold public office. Furthermore, the judgment found that leading blue chip company John Keells Holdings (JKH) Chairman Mr. Susantha Ratnayake had also engaged in unethical behaviour, in pushing the deal through. (NG)

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