The Economic Council of the Janatha Vimukthi Peramuna (JVP)-led National People’s Power (NPP) of the Parliamentary Opposition claimed that certain Opposition groups are attempting to mislead the public by creating in their election manifestos a nexus between their anti-corruption measures and the privatisation of crucial State entities.

Speaking at a press conference held yesterday (2), NPP's Chief Economic Adviser Prof. Anil Jayantha, noted that many Opposition political parties have already accepted the Government’s economic policy, in which the privatisation of national assets and taxation have been the main ingredients. He also said that those Opposition groups do not have a distinctive programme to establish the right economic system instead of carrying on the Government’s economic programme. 

Prof. Jayantha stated that all the political parties that were a part of post-Independence regimes must look back to the objectives of and the mistakes that they committed in setting up State-owned enterprises (SOEs) before recommending the privatisation of those SOEs whilst claiming that they have been a burden for the country’s economy.

“It is surprising to see many Opposition parties endorse the privatisation of national assets. These loss-making SOEs were set up during their administrations. Most of these SOEs were set up without a clear vision. Therefore, they must look back on how those SOEs have become such a burden instead of privatising them,” he added. 

Stating that the privatisation of crucial public institutions that are more important when it comes to national security and economic sovereignty, will have an adverse impact on the country, he noted that many countries in the world that had privatised utilities like electricity and water are now regretting their decisions, looking at their consequences. He also said that significant economic hubs attached to sectors such as electricity, the capital market, and telecommunications should not be privatised on any grounds.