A wave of public scrutiny has engulfed Trade and Commerce Minister Wasantha Samarasinghe following the release of his official asset declaration, which reveals a portfolio valued at approximately Rs. 275 million.
The disclosure, published on the Commission to Investigate Allegations of Bribery or Corruption’s website, lists an array of commercial properties, land, gold, vehicles, solar power installations, bank deposits, shares, and cryptocurrency holdings.
The declaration has ignited a heated debate on social media, with citizens questioning the sources of the minister’s substantial wealth amid Sri Lanka’s ongoing economic hardships.
Samarasinghe’s assets include a commercial building valued at Rs. 150 million and a three-storey commercial property worth Rs. 75 million, alongside a residential house, two solar power units, 17.5 pounds of gold, a Toyota Prius, fixed deposits, shares in the LOLC conglomerate, and cryptocurrency holdings worth around Rs. 1 million.
The Minister attributes his wealth to a mix of inheritance, long-term business ventures, and personal investments.
In a recent televised interview, Samarasinghe responded directly to questions about the origins of his assets.
“I was born in Thambuttegama, where my family is well known. After studying at the University of Kelaniya, I became active in politics with the JVP while managing family businesses. Much of my property comes from inheritance and steady development over decades,” he said.
Minister Samarasinghe detailed how his teaching ventures began modestly in 1997, initially with makeshift facilities, evolving into one of the largest tuition centres in his hometown, generating significant rental income.
He emphasized the gradual development of his properties, including solar power installations and expansions funded through bank loans.
When pressed about whether any assets were acquired after assuming ministerial office, Samarasinghe categorically denied it.
“I declare everything transparently, and none of this wealth was accumulated through public funds,” he asserted.
The Minister also addressed the inclusion of gold in his portfolio, explaining that much of it was acquired through marriage and appreciated over time.
“I bought gold at Rs. 6,500 per pound back then but today it’s nearly Rs. 300,000 per pound,” he said.
While Samarasinghe maintains that his wealth is legitimate and accumulated through hard work and inheritance, critics argue that the revelation underscores broader concerns about wealth concentration among politicians.
The public response to this latest disclosure indicates that trust in politicians remains fragile.
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