Govt. moves to alienate Colombo Dockyard to an Indian firm

• Indian company is involved in building war ships and submarines therefore, it will trigger national security concerns for SL

The Front -line Socialist Party charged that the government is planning to alienate 51 per cent of equity held by a Japanese firm at Colombo Dockyard Company to an Indian company. The Party”s Education Secretary Pubudu Jayagoda , addressing an electoral rally, said that the company had decided to alienate equity held by the Japanese company to an Indian company, even rejecting bids by two Sri Lankan companies to acquire them. 

He said Colombo Dockyard is a company famed for shipbuilding and repairs. The Sri Lankan government holds 30 per cent of its equity. Jayagoda said the Indian company is involved in building war submarines and ships , and therefore, it will trigger national security concerns for Sri Lanka. In the event of India and Pakistan being on the brink of a war, he said the presence of a warship building company in Sri Lanka would endanger the country and its people