Controversy surrounds investments into largest tyre manufacturing plant in the country

Controversy surrounds investments into largest tyre manufacturing plant in the country

Controversy surrounds investments into largest tyre manufacturing plant in the country

Written by Tharushan Fernando

06 Jan, 2017 | 9:46 pm

A number of issues have cropped up with regard  to investment into the largest tyre manufacturing plant in the country for which the foundation stone was laid yesterday.

The Prime Minister laid the foundation for a new tyre manufacturing company which is termed the “biggest in the country.” The ownership of this company is held by businessman Nandana Lokuvithana.

There were a number of complaints that were lodged against Nandana Lokuvithana stating that he was connected to various malpractices during the time of the Mahinda Rajapaksa Government.

His name was mentioned in the Dubai Marriott Case. A number of anti corruption organisations had lodged complaints against him, with several legal organisations.

The Name of Nandana Lokuvithana was listed in the controversial Panama Papers as well.

Meanwhile, the American Department of Commerce has imposed a special tax on certain types of tyres that are manufactured in Sri Lanka.

The decision has been taken after considering two complaints lodged by two American companies with the Commerce Department.

Thereby an export tax of 2.2% will be applied on OTR tires manufactured in Sri Lanka.

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