Minister of Power Gamini Lokuge says 40% ownership of the Yugadanavi Power Plant in Kerawalapitiya being sold to an American company is not a false rumour.
Speaking to media, the Minister said such a deal is not contradictory to the policy statement of the President.
He defended the government’s actions claiming it was not wrong to work together with the private sector as well as international investors in order to ensure development within the country.
The Minister said the Ceylon Petroleum Corporation was also a monopoly for a long period of time yet decided to amend its business structure and divided it into two entities.
Minister Gamini Lokuge said the former government sold 80% of the Hambantota Port claiming that the present government is trying to buy back shares.
He assured that the government will not sell local assets to foreign entities.