Where did the money for the oil refinery come from?

Where did the money for the oil refinery come from?

Where did the money for the oil refinery come from?

Written by Staff Writer

28 Mar, 2019 | 10:31 pm

Colombo (News 1st): The controversial US$ 3.85 billion oil refinery in Mirijjawila has raised many questions in the past few days. Yesterday News 1st informed about the affidavit that was put forward by Jagathrakshakan who is a politician in India, a controversial politician, who was also the leader of the DMK party. He notes that his assets are around INR 114.7 core.

However, Transparency International Sri Lanka yesterday issued a release warning regarding the controversy surrounding the proposed US$ 3.85 billion oil refinery in Mirijjawila, Hambantota. They noted that could have a negative impact on Sri Lanka’s efforts to remove itself from the Financial Action Task Force’s (FATF), ‘Grey List’.

The Hindu notes that the company that is investing in our country through Singapore is a company that has not yet commenced full-fledged operation. News 1st also reported that Oman denied that they are investing in the country. It is clear that the money is not coming from Oman or from India.

Where is this money coming from?

What will happen to the financial credibility that our country holds in the International eyes? 

According to section 9 of the RTI Act if a project that  is over US$ 100,000 is being carried out in the country, the subject minister who proposes this project to the cabinet of ministers, should put forward the financial details of the said project out before the general public three months prior to the commencement of the said project.

Did this happen in the Mirijjawila Oil Refinery Project?

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