Dr. Neville Fernando to settle all loans in 10 years

The South-Asian Institute for Technology and Medicine (SAITM) today said that as per the Cabinet Memorandum approved by the Cabinet, the mortgage rights of the Dr. Neville Fernando Teaching Hospital (NFTH) will remain with the Bank of Ceylon (BoC) until such time all loans are repaid by SAITM within the next 10 years, after which all titles of ownership will be vested with the Government of Sri Lanka.

Issuing a statement, the SAITM also stated that “This arrangement was materialized under the advocacy of attorneys of BoC, the government and SAITM in the best interest of all stakeholders. Furthermore, SAITM would like to clarify that the Sri Lankan Government has not made any form of payment to SAITM as compensation or lease, under the said agreement.”

“Contrary to the statements issued by parties with vested interests, the Dr. Neville Fernando Teaching Hospital (NFTH) hospital valued at Rs.3.55 billion was ceremonially handed over to the Government to augment the free health care provided by the Government to Sri Lankan citizens.

The land which is owned by the Urban Development Authority (UDA) will be sub-leased to the Ministry of Health for a nominal rent of Rs.1,000 per annum.

The NFTH was ceremonially handed over to the government of Sri Lanka on July 17 in the presence of President Maithripala Sirisena, Health, Nutrition and Indigenous Medicine Minister Dr. Rajitha Senaratne and Higher Education and Highways Minister Lakshman Kiriella.

Accordingly, a tri-party agreement will be signed by the Chairman of SAITM, Secretary to the Ministry of Health and the General Manager of Bank of Ceylon, formally handing over the Dr. Neville Fernando Teaching Hospital, which will function as a government hospital offering free healthcare, effective August 1, 2017.

“The Management of SAITM aspires to work alongside the government, as it has done in the past, to uplift the healthcare sector in Sri Lanka, and to thereby enable all citizens, access to efficient and quality health services from qualified professionals,” the statement added.