The Hon. Sunil Rathnasiri

¶ 01 Hon. Deputy Speaker, Mahapola was founded by Hon. Lalith Athulathmudali to support low-income students. Because interest income alone was insufficient, Mahapola borrowed Rs. 175 million at 1.25% above market rate from the National Development Bank, acquired about 25 acres at Kaduwela/Malabe, and in 1999 commenced SLIIT with Rs. 373 million.

¶ 02 There were agreements: in 2003 (for eight years’ management by SLIIT) and in 2005 (replacing the earlier, with 20% of net profit or Rs. 8 million, whichever higher, to Mahapola; Mahapola to appoint five directors; Mahapola approval for new projects). On 12 May 2015 this was cancelled and a new agreement reached: state land and buildings on a 60-year lease without proper consent; SLIIT declared independent of any state body; Mahapola barred from intervening in academic affairs; SLIIT allowed sub-leases, mortgages without Mahapola consent; and Rs. 408 million paid to Mahapola against Rs. 373 million invested—while SLIIT made Rs. 463 million net profit in 2020 alone. The Presidential Special Commission identified persons responsible: Prof. Lalith Gamage, Prof. Lakshman Ratnayake, Dr. Wickrema Weerasooriya (deceased), Notary Manjula Sagarika Ellepola, Mr. Anil Rajakaruna, and trustee/then Minister Gamini Jayawickrama Perera. What action will the present Minister take against those found responsible?