ECONOMYNEXT – The cabinet of ministers will take a final decision on the sale of Sri Lanka Telecom shares after taking recommendations from the ICT sector, a statement from President media office said.
Sri Lanka parliament’s sectoral committee on national security said earlier in the day that the move would be a threat to national security.
The government has the assurance that the move will not compromise national security, the statement said.
“Hence, the Government will take a final decision during an upcoming cabinet meeting, considering this report along with recommendations from the information and communication sector,” the statement said.
“Additionally, the President emphasizes that the current government’s policy is focused on providing opportunities to the private sector, distancing it from direct government involvement.”
The report “lacks a logical or scientific data analysis pertaining to the subject matter.”
“To address this deficiency, it is necessary to examine the operation and regulation of information and communication technology service providers in Sri Lanka, analyse financial data related to the sector, understand Sri Lanka’s national ambitions in this field, assess the available capital capacity, and conduct a comprehensive study of global trends,” the statement said.
Sri Lanka Telecom is a listed company which was partly owned and managed by Japan’s NTT ending 10 year waiting lists for phone. The NTT stake is now owned by Usaha Tegas, a part of Malaysia’s Maxis group. (Colombo/June08/2023)