Prime Minister Harini Amarasuriya provided a detailed account in Parliament on the Supreme SAT satellite project, following a question raised by Opposition MP D.V. Chanaka.
She said that on May 23, 2012, Supreme SAT Pvt. Ltd. signed an agreement with the Board of Investment (BOI) to establish a satellite system and provide telecommunication services. The project began commercial operations on July 28, 2015, she said.
As of 2019, company shareholding stood as follows:
Supreme SL Investments Pvt. Ltd.: 20% (47,180,200 shares)
Supreme Global Holdings Pvt. Ltd.: 80% (188,344,970 shares)
Citing BOI data, the Prime Minister said the Supreme SAT company generated the following revenue:
2015/16 – Rs. 19,617 million
2016/17 – Rs. 28,133 million
2017/18 – Rs. 29,106 million
2018/19 – Rs. 34,169 million
2019/20 – Rs. 42,960 million
2020/21 – Rs. 62,545 million
2021/22 – Rs. 87,789 million
First half of 2023 – Rs. 39,590 million
MP Chanaka thanked the Prime Minister for addressing what he described as one of the major allegations made against investors in Sri Lanka.
He noted that the project was commonly referred to as “Chichi’s rocket” and claimed a $300 million investment had gone unaccounted for. He added that when he initially raised the issue, MP Bimal Rathnayake alleged the project had disappeared.
“This is best known as Chichi’s rocket, rather than Supreme Sat in Sri Lanka. The allegation was that USD 300 million was invested in this and then the project disappeared,” he said.
“But now the Prime Minister has clarified that not a single Sri Lankan rupee was invested and that the project has generated substantial annual income and foreign direct investment,” Chanaka said.
He also referred to earlier remarks by NPP members, who claimed the project was a personal venture purely for the entertainment of the sons of former presidents. He questioned whether such allegations made under parliamentary privilege were approved by the Prime Minister.
In response, Prime Minister Amarasuriya clarified that her statements were based solely on BOI data.
“I have not given any personal analysis on whether the project was large or small. This matter was publicly discussed for different reasons. If there are further questions on that, I can respond separately. But this is the factual information based on the official reports. Whether it is good or bad will be determined by the public,” she said.
The Prime Minister also noted that the government does not discourage foreign investment, adding that approvals are evaluated against national development goals rather than the project’s scale alone. (Newswire)
