National assets should never be alienated: GL

Former External Affairs Minister Prof. G. L. Peiris said the alienation of national assets should never be the first resort.

He made his oral submissions to the Public Commission working out a national policy in international trade as a voluntary exercise by a group of academics and professionals linked to the Joint Opposition. Prof. Peiris said every effort should be made to ensure that assets were deployed in such a way that they produce income for the country.

“National Security is paramount, and it cannot be alienated in any manner whatsoever. Scientific assessment of the true value of the asset is very important. Security of employment is also important,” he said.

He said the decision making authority of the country should not be compromised.

Commenting on the Hambantota Port deal, he said there were implications arising from the original agreement for the sovereignty of the country. In the agreement, there is a provision that says the admission of ships to the port should be decided by the foreign company. It is also responsible for security of vessels, cargo and personnel within the port. The public are told that the Chinese company will get 80 per cent of shares and Sri Lanka 20 per cent. They are trying to amend it this way. They say one fifth of the shares of the foreign company can be transferred to a Sri Lankan entrepreneur within ten years. There is a catch there. When they sell it, it is on an international valuation. When they get back shares, it is not on international valuation. It will be at a vastly enhanced price. That is no way to handle the transaction in this nature,” he said.

National Security is paramount, and it cannot be alienated in any manner whatsoever. Scientific assessment of the true value of the asset is very important. Security of employment is also important