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Lake House to be sold to pay Rs. 10,000 million debt |
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2009-08-08 | 5.30 PM |
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The government has secretly decided to privatize Lake House, reliable sources from the government said. The newspaper distribution of Lake House has already been allocated to the private sector. None employees attached to the SLFP trade union at Lake House who opposed the move have been suspended from duties.
Lake House was a profit making state entity when present Chairman Bandula Padmakumara assumed office. Soon afterwards the institution had started running debts up to Rs. 10,000 million. Employees allege that the once profit making entity has been purposely pushed into becoming a debt ridden company. |
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Sources said that the Chairman is planning on selling Lake House to the private media company Swarnavahini, where Padmakumara is also employed, with the support of the government.
A journalist attached to Lake House, D.B. Elkaduwa, has already infirmed the President of the alleged fraud and corruption taking place within Lake House.
SLFP trade union head at Lake House, V.M.P.A. Dassanayke said that the institution is incurring heavy losses due to the disorganized management.
The institution that recorded profits while employing 3,200 workers had fallen in to the debt trap when Lake House had taken a bank loan to pay compensation for its employees.
Trade unions attached to Lake House also expressed shock at the management decision to spend heavily on carrying out the propaganda campaign of a government politician.
The closest example is pointed out by them is the spending of Rs. 5,000,000 to print and distribute a supplement on the Uva Province Chief Ministerial candidate, Shasheendra Rajapakse.
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