Mahinda Rajapaksa urges postponement of national asset sales

May 12, Colombo (Daily Mirror) -  Former President Mahinda Rajapaksa has expressed concern over the current government's plans to sell off national assets and state-owned enterprises, calling for the postponement of all such moves until after the next Presidential election, allowing the incoming government to address the issue according to its mandate. 

In a statement issued today, Rajapaksa highlighted the discontent among trade unions, political parties, and the general public regarding the ongoing divestiture drive.

Rajapaksa, who served as President from November 2005 to January 2015, emphasized his government's approach towards state-owned assets, stating that they refrained from privatizing profitable enterprises. Instead, they focused on managing prices to ensure economic stability and continued profitability of state-owned enterprises. During his tenure, the country experienced an economic boom, with no discussions of privatization, he noted.

Addressing concerns raised by trade unions and political parties, Rajapaksa called for a nuanced approach towards private sector participation in state-owned enterprises. 

While acknowledging the potential benefits of private investment, he cautioned against hasty divestiture, especially in sectors critical to national security.

He emphasized the importance of transparency, national security considerations, and consultation with employees in any restructuring of state-owned enterprises.

As such, Rajapaksa urged both the government and trade unions to adopt a pragmatic and non-dogmatic approach towards privatization, focusing on the overall benefit to the country. He emphasized the need for a government that prioritizes the safeguarding of national assets and strategically important enterprises.