Parliamentary Committee opposes privatization of SLT

June 9, 2023 at 11:23 AM

The Sectoral Oversight Committee on National Security says it will not recommend the privatization of Sri Lanka Telecom (SLT).

The Committee chaired by MP Sarath Weerasekara has stated it poses a threat to national security.

The Sectoral Oversight Committee on National Security further revealed that matters sensitive to national security could be exposed through this move. 

Sri Lanka Telecom was among several institutions that were brought under the purview of the Ministry of Finance, Economic Stabilisation & National Policies via a Gazette notification in May. 

The Secretary to the Treasury also gave an undertaking to the Supreme Court of Sri Lanka in May that the government-owned shares of Sri Lanka Telecom will not be divested before June 15, 2023.

The Treasury holds a 49.50% stake in the issued share capital of Sri Lanka Telecom PLC. (NewsWire)