Prime Minister Harini Amarasuriya today (06) clarified in Parliament that the Sri Lankan government did not invest any public funds in the Supreme Satellite launched by Rohitha Rajapaksa, the youngest son of former President Mahinda Rajapaksa.
However, the Prime Minister noted that the country has received financial returns through the satellite project.
Responding to a question raised regarding the financial involvement in the communication satellite launched by Supreme Sat Company, a subsidiary of Supreme Global Holdings, the Prime Minister explained:
“Supreme Sat entered into an agreement with the Board of Investment (BOI) of Sri Lanka on May 23, 2012. During 2013 and 2014, the company invested Rs. 12,014,936 for the communication satellite. According to the investment application submitted by the company, the Government of Sri Lanka did not invest any funds in this project. It was carried out under Section 17 of the BOI Act as a domestic market-focused project.”
She further added that:
“For the establishment and operation of a satellite system at the Kandy Industrial Park, with an investment of Rs. 1,828 million, Supreme SHST (Pvt) Ltd entered into an agreement with the BOI on May 23, 2012. The project, aimed at providing telecommunications and broadcasting services, commenced commercial operations on August 27, 2015.”
The Prime Minister also detailed the shareholding structure of the company as of 2019:
Supreme Acel Investments (Pvt) Ltd: 47,180,200 shares (20%)
Supreme Global Holdings (Pvt) Ltd: 188,344,970 shares (80%)
She presented the financial benefits accrued to Sri Lanka from the Supreme Sat project, based on data available in BOI records:
2015–2016: Rs. 19,617,000
2016–2017: Rs. 28,133,000
2017–2018: Rs. 29,106,000
2018–2019: Rs. 34,169,000
2019–2020: Rs. 42,960,000
2020–2021: Rs. 62,545,000
2021–2022: Rs. 87,789,000
First half of 2023: Rs. 39,500,000
“Mr. Speaker, this response is based solely on the reports and data received,” the Prime Minister emphasized.
