10th Parliament· 154 sittings on record · 30,475 speeches · latest 10 June 2026

The Hon. Sunil Handunnetti - Minister of Industry and Entrepreneurship Development

Jathika Jana balawegaya· Matara· 22 May 2025 ·Debate: Debate: Regulations under Imports and Exports (Control) Act, No. 1 of 1969 and Disposal of Property Act Resolutions

Public FinanceCorruption & Governance Reform
AI summary generated by gpt-5.5

12,450 metric tonnes of salt had been imported, and the Minister outlined the ownership history of Puttalam Salt Limited from its 1997 lease to a consortium of cooperative and banking institutions. He said subsequent share acquisitions by Raigam Group created a controlling interest and led to the establishment of Raigam Wayamba Salterns PLC beside Puttalam Salt Limited, raising legal and conflict-of-interest concerns due to overlapping directors. He stated that the issue, enabled by successive administrations since 1997, had resulted in market power that needed to be addressed, with the process expected to conclude in about two years.

Verbatim record (translated)

Machine-translated from Sinhala / Tamil / English

¶ 01 Yes, 12,450 MT were brought in. As to the Puttalam Salt Limited history: on 05.02.1997, 90 percent of Puttalam Salt Limited’s rights were leased for 30 years to a consortium comprising Gampaha District Rural Bank Association, North Western Province Rural Bank Association, Kalutara District Rural Bank Association, People’s Bank, Pan Serendib Institute, North Central Province Rural Bank Association, Sri Lanka Consumer Co-operative Society, and the Sri Lanka Co-operative Management Institute. The original state corporation ceased and control moved to these eight institutions. Thereafter, through purchases of shares held by the Kalutara District Rural Bank Association and People’s Bank, Raigam Group acquired a controlling interest and set up Raigam Wayamba Salterns PLC, building a factory adjacent to Puttalam Salt Limited—raising legal and conflict-of-interest issues because directors overlapped. That process will conclude in about two years; administrations since 1997 enabled this structure, and the resultant market power must be addressed.

Provenance

Source
Hansard, Thursday, 22 May 2025 ·No. 1750307293077610 ·English daily/uncorrected Hansard
Page · column
not yet extracted — page/column anchors are not in the current dataset; the source PDF is the citable location.
Permalink
/lk/speeches/24557

Cite as: The Hon. Sunil Handunnetti - Minister of Industry and Entrepreneurship Development. 10th Parliament, Parliament of Sri Lanka. Hansard, 22 May 2025. No. 1750307293077610. Politick, https://staging.politick.io/lk/speeches/24557