• President’s office says recommendations from the information and communication technology sector will also be obtained before taking a decision 
• Says govt. will not take any policy decision that will harm national security
• Points out the Sectoral Oversight Committee report on SLT privatisation lacks logical or scientific data analysis 

Sri Lanka Telecom workers protesting against privatisation in Colombo 

The final decision on the privatisation of Sri Lanka Telecom PLC (SLT) will be taken during an upcoming meeting of Cabinet of Ministers, the President’s Media Division (PMD) said in a statement on Friday.
The statement noted that the government has focused its attention to the Sectoral Oversight Committee report presented to parliament on June 9 stressing the implications SLT privatisation would have on national security.

“While acknowledging the factual content of the report, the government believes it lacks a logical or scientific data analysis pertaining to the subject matter,” the PMD statement said referring to the Sectoral Oversight Committee report.

“To address this deficiency, it is necessary to examine the operation and regulation of information and communication technology service providers in Sri Lanka, analyse financial data related to the sector, understand Sri Lanka’s national ambitions in this field, assess the available capital capacity, and conduct a comprehensive study of global trends,” it added.

The statement also stressed that the government would not compromise national security through its policy decisions.
Hence, the government will take a final decision during an upcoming Cabinet meeting, considering this report along with recommendations from the information and communication technology sector,” the statement said.

“Additionally, the President emphasises that the current government’s policy is focused on providing opportunities to the private sector, distancing it from direct government involvement,” it added.
The Cabinet of Ministers in principle green lighted the divestiture of seven state-owned enterprises (SOEs), including SLT in March.
For this purpose, the State-owned Enterprises Restructuring Unit (SRU) has been created under the Ministry of Finance.

The Treasury holds 49.5 percent stake in the issued share capital of SLT while Global Telecommunications Holdings NV holds 44.98 percent stake.
The Treasury Secretary in May gave an undertaking before the Supreme Court that the government-owned shares of Sri Lanka Telecom (SLT) will not be sold until June 15.