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“No land will be sold to foreigners” – Semasinghe

State Minister of Finance Shehan Semasinghe is rejecting Opposition charges that the new government is selling off land in Sri Lanka to foreigners.

Addressing reporters today Dec 2, at the Treasury in Colombo, Semasinghe said that these unsubstantiated charges are being made after an investor signed up to build a mixed-development tower in Colombo valued at US$250 million.

“The former government had mismanaged this project and because of that, it got delayed. But as soon as the government of President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa came to power, the investor wanted to begin the project,” he said.

He said that the investment in this project had gone up by US$50 million after this government came to power.

He said that he can “guarantee that under the rule of this government not a single inch of land would be sold to foreigners.”

He went on to say that due to the mismanagement of the economy by previous governments the country in debt. “We have a plan how to deal with debt and we are paying back these loans, one by one.”

Semasinghe also said that his government does not plan to take any more loans. “We have more faith in investment than borrowing,” he said.

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