Chinese takeover? UNP

28 January 2012 08:59 am - 35 - {{hitsCtrl.values.hits}}

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Major development projects funded by China are to become Chinese entities in the near future with the government’s decision to handover stakes of major development projects to China instead of paying the debt in owes to that country, the main opposition UNP charged yesterday.

UNP National List MP Dr. Harsha De Silva said the Colombo South Terminal of the Colombo Port, the newly built Hambantota Port and the Mattala International Airport would eventually become Chinese entities in the near future with this plan. This he said was because these projects are carried out with Chinese funding which had come in the form of loans.

He said this decision had been made as the Sri Lankan government had realised that it is not in a position to pay the debts to China. Accordingly he said China’s total investments in Sri Lanka would be US$784 million as a result of this move. China had provided loans to Sri Lanka to the tune of that amount.

Coming up with another allegation he said construction contracts of major development projects have been handed over to Chinese companies without tenders. He said the situation is same with the Lotus Tower project for which the foundation stone was laid recently.

Besides he said China Merchant Holdings which had a 55 per cent stake of the Colombo South Terminal at the Colombo Port had managed to increase it to 85 per cent as the 30 per cent stake which was owned by Aitken Spence had been given to the former. He said Aitken Spence had decided to terminate its partnership with Sri Lanka Ports Authority and China Merchant Holdings as a result of a dispute.

Responding to a notion posed by the journalists that China is bringing investments which are essential to Sri Lanka in the wake of other investors turning their backs on Sri Lanka, the UNP MP said investors are drawn away from Sri Lanka because of draconian pieces of legislation such as the ‘Revival of the Underperforming and Underused Assets Bill’ which enables the government to take over entities. (Yohan Perera)

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Comments - 35

Imran Hussein Sunday, 29 January 2012 06:14 AM

Bought by China-pakse. Those oppotunists are to hoodwink the rural public and they did a god job.

Puran Sunday, 29 January 2012 01:59 AM

All the present regime cares of is sort of instant gratification. They dont care to who thee country will be dominated by as long as they can plunder the welath of the countryi

jack Sunday, 29 January 2012 03:02 AM

china is better than western country

ordinary man Sunday, 29 January 2012 03:30 AM

No. We should only start economically viable and attractive projects. Those kind of prjojects will attract all kind of companies from all kind of countries since that is how the economics work. The a proper tender process will be carried out so we can chose the most beneficial deal for us. We won't buy high interest rate loans from china and the foreign investing company would have to bring in all or part of the investment and for that they would get an equity of the project. I believe this is how the kalpitiya tourism zone is been developed. If this model cannot be applied to a certain project that means most like we are doing an economically unviable project.

MF Sunday, 29 January 2012 03:36 AM

Spot on!

Rajitha Sunday, 29 January 2012 04:02 AM

far better than allowing americans to control the world economy

skv Sunday, 29 January 2012 04:32 AM

Raise voice,protest against chineese take over..development should be for a better living conditions for citizens..and not fall in chineese debt trap... believe in a better tomorrow

Nicky Karunarathna Sunday, 29 January 2012 05:10 AM

This guy morning to evening talking about Timbaktu economics. Even SL economy growing also bad not growing also bad, foreign investments also bad. And he wants countries to be slected for investments in SL piecemeal methods with racist attitudes, such as: this is Chinese, this Indians! Your economic brain have to be tested if there is any brawn there - when we see $ 1.3 trillion investment in US treasury bonds and sinking EU begging for Chinese inevestments. His only idea is to sink SL and that's his economics. His jealousy and hatred with country's economy has no bounds. According to him, IMF and all World Bank records of the SL economy also bogus. Forget about your economics, go and get a life mate!

ME Sunday, 29 January 2012 05:18 AM

I don't think this is wrong, it is much better, China will take over this country than west. At least they came and helped SL whenever SL in trouble. If you can stop corruption we do not have to beg for loans or aids, we would have done wonders.

leena Sunday, 29 January 2012 12:57 AM

Alternative suggestions are familiar to anyone who has cared to educate themselves. Have you even read his other policies and presentations?

Imran Hussein Sunday, 29 January 2012 06:17 AM

Sold!

nishV Sunday, 29 January 2012 06:20 AM

Leena, what is the use of a doctorate if all he speaks does not reflect his level of education, especially in his specialized field. Wonder if you have noticed many of his written and visual presentations (before being a politician) were politically biased and he was in a cheap attempt to add some credibility to his claims using his doctorate? And you should also understand that today he is only a rook of the UNP. I too don’t 100% agree with many local investments being controlled by the Chinese, but believe an Asian partner who has a much better understanding and a relationship would be much better option than a double standing Western crook. Also many of the comments would have been different if some western (so called superpower) was investing with millions of conditions.

Imran Hussein Sunday, 29 January 2012 06:15 AM

Another typical outdated bankpupt theory. This country is sinking today thanks to people you like you for sure. You guys have no idea what China and its agenda is.

Nimal Sunday, 29 January 2012 11:52 AM

What sort of moronic idea. Don't you remember the Dutch 'helping' against the Portuguese? China is only helping China, all countries do that. China is trying to surround India with naval bases. Haven't you heard of their 'string of pearls'? Thats why they are 'helping' Myanmar, Bangladesh, Sri Lanka, East Africa. Look at a map, what do you see? Sri Lanka will wake up when it is too late.

Bawa Sunday, 29 January 2012 11:58 AM

The most ridiculous comment ever made. Do you think the people are enjoying the blessings and good management in Iran, China & Russia. Ha ha ha what a fool!

SL Sunday, 29 January 2012 03:51 PM

That is a good thing if that happens...

Sameen Jan Monday, 30 January 2012 01:30 AM

Super point.Well said

citizen1 Saturday, 28 January 2012 06:47 PM

We are a sinking ship at this point. Thanks to foolish decisions made by the 'incompetents'

Prof Wickramatillake Saturday, 28 January 2012 12:16 PM

Where are the patriots, Vasudewa, Wimal Weera, Gunadasa Amarasekara and the Co???

raymond Saturday, 28 January 2012 12:21 PM

As time goes on Mandarin (Chinese Language) will be a compulsory subject in our schools!!

Leslie Saturday, 28 January 2012 01:33 PM

Sri Lanka will become another Hongkong to China.

Luck Saturday, 28 January 2012 01:38 PM

"Democratic Socialist Republic of Sri Lanka" will be transformed to "Sri Lanka Special Administrative Region of the People's Republic of China" in few years time!!!!

sena Saturday, 28 January 2012 01:54 PM

Let us see whether it works. We have been doing the same with the West since our independemnce

nishV Saturday, 28 January 2012 02:11 PM

so what do you suggest Dr. ? Stand sill and wait until some western duke throw a penny ?

RUHUNU KOLLA Saturday, 28 January 2012 02:59 PM

The way how it is going, very soon all sri lankans will get chinise citizenship !

Abraham Saturday, 28 January 2012 03:21 PM

What is wrong in China taking over all these projects and running the business. It is for the good of the nation. There was a time the Westerners were owning the properties and had a good administration. What betterment the nation has seen since most of the properties were nationalized and run for the last 60 odd years. Bribery, mismanagement, abuse of powers, etc., are the ones seen by the people. So let us hand over the nation to China, Russia, Iran, such nations and let the people enjoy the blessing and good management, hoping so.

Lanka Saturday, 28 January 2012 12:03 PM

If it does happens it will be betterment for SL. No more strikes, protests and politicians !

Anton Weerasinghe Saturday, 28 January 2012 06:52 PM

Government is selling the country to China?

Sri Minnal Saturday, 28 January 2012 08:15 PM

I find it very difficult to understand UNP's comments regarding China. China is lending us the money and I am sure you agree with me that they should get the contract. By keeping China with us India will lend us as well.

kc Saturday, 28 January 2012 08:22 PM

South to the Chinese; north to the Indians ! The ultimate miracle of Asia !!

refugee Saturday, 28 January 2012 11:28 PM

When the war was on china & India were playing the “best friend” role. No one in sri lanka both in ruling & opposition bothered to wonder why? After screw the tamils every tom, dick & harry was boasting about the Veerayas & sorrayas ! never realised that china & india will swallow the country in full.
At least the LTTE was asking a part of it! I think we are liepeng kabaleata!!!!

Gamarala Saturday, 28 January 2012 11:26 PM

We elect government and they select project funders...now Chinese economy control world finances

KD Sunday, 29 January 2012 12:30 AM

Couldn't be a bad thing. 1 Billion+ people speak Mandarin.
Plus Chinese keep on buying big businesses all over the world, not just in Sri Lanka. Think of it this way, when Europeans invaded rest of the world, they did not pay anything, but took what they want by force.

Michael Sunday, 29 January 2012 01:03 AM

Stop whinning Mr. De Silva. The opposition is incompetent. Do something concrete and resurrect a stable and dynamic opposition without limiting your actions to issuing mere press statements and hypotheses. The country need men of action not talkers.

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Chinese takeover? UNP

Comments - 35

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