UNP urges Govt. to disclose role of Selendiva Investments to public

Thursday, 3 June 2021 00:26 - - {{hitsCtrl.values.hits}}

The United National Party has urged the Government to publicly reveal the details regarding the operations of Selendiva Investments Ltd.

In a statement the UNP said its Working Committee had raised concerns that the Government was currently attempting to use the ongoing COVID-19 enforced travel restrictions in the country to engage in business ventures related to State-owned assets.

At the time of Selendiva Investment’s inception in July 2020, it was tasked with the revival of three State institutions, namely the Grand Hyatt Colombo, Hotel Developers (owning company of Hilton Colombo) and Grand Oriental Hotel.

However, according to media reports, Selendiva Investments will now be tasked with the ownership and diversification of a collection of State-owned lands and assets including land and buildings belonging to Foreign Ministry, the Air Force headquarters and the Bank of Ceylon. Many of these buildings date back to the 19th Century.

The UNP asked the Government as to whether the relevant legislation regarding Selendiva Investments had been presented to Parliament for approval.

As the constitutionally-empowered body to oversee public finance, it is the prerogative of the Parliament to approve the establishment of such an institution.

The UNP also questioned the Government as to what guidelines had been enforced which would govern the operations and appointments to this company.

“The sovereignty of Parliament has once again been threatened by the creation of such a company. Will this politically-appointed Committee be accountable to Parliament?” the UNP statement added.