The Hon. Wasantha Samarasinghe
Hon. Wasantha Samarasinghe stated that while he was not opposed in principle, he had not agreed at the time to proceed with a stock market listing. He highlighted shareholding disparities at LTL, noting that most of its roughly 600 employees, particularly those joining after 2017, have no shares while about 15 employees receive substantial returns, including an estimated Rs. 1.3 billion from 2024 profits. He said the Government had identified these issues, was intervening to resolve them, and had restructured the CEB and acted against corruption as part of institutional reform.
Verbatim record (translated)
Machine-translated from Sinhala / Tamil / English¶ 01 We are not opposed, Hon. Ajith P. Perera. But we did not agree to proceed to the stock market at that time.
¶ 02 There is more history here. Currently about 600 employees are at LTL; those joining after 2017 have no shares. About 15 employees hold shares. In 2024, 1.11 Holdings made Rs. 10.8 billion profit; of that, around Rs. 1.3 billion accrues to those 15 employees. This can be resolved going forward. The Government has identified many issues and is intervening to find solutions. We have not sidestepped problems. We restructured the CEB and stopped corruption to reform these institutions. If mistakes are shown, we will correct them. I conclude.
¶ 03 Thank you, Hon. Presiding Member.
Provenance
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- Hansard, Thursday, 20 November 2025 ·No. 22934 ·English daily/uncorrected Hansard
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Cite as: The Hon. Wasantha Samarasinghe. 10th Parliament, Parliament of Sri Lanka. Hansard, 20 November 2025. No. 22934. Politick, https://staging.politick.io/lk/speeches/4492