COLOMBO:The Chairperson of Lanka Sugar Company (Pvt) Ltd, Sandamali Chandrasekera, has resigned from her post with immediate effect due to pressure from certain local politicians.
In a letter addressed to Minister of Industry and Entrepreneurship Development Sunil Handunnetthi, informing of her decision to resign, the Chairperson highlighted that Lanka Sugar Company, as a loss-making State-Owned Enterprise, operates under strict regulatory and financial controls, including those imposed by the Department of Public Enterprises.
The Chairperson noted that while these frameworks are necessary to ensure accountability and governance, they inevitably constrained the Company’s ability to function and respond to external demands.
During her tenure, the Chairperson stated that there were multiple instances where requests and expectations were made to the Company that would have required violating circulars, regulations, and legal procedures.
The Chairperson stated that under such circumstances, the Board of Directors, the Chief Executive Officer, and she remained firmly bound by statutory and fiduciary obligations, and were therefore unable to comply with these requests.
The letter further noted that these circumstances led to increasing “friction with certain provincial politicians.”
Despite repeated efforts to explain the legal and regulatory limitations under which the Company operates, these explanations were not accepted, the Chairperson stated.
The Chairperson stated that the “resulting and ongoing pressure from local politicians” to act in ways inconsistent with the law, regulations, and government circulars had made it increasingly difficult to perform duties in line with good governance and institutional integrity.
“In these circumstances, I am unable to perform my duties in the best interests of the institution and in keeping with my professional ethics therefore, I believe it is both appropriate and necessary for me to step down from this position,” she added.
