The Cabinet has approved the transfer of shares from the Yugadanav Power Plant in Sri Lanka to a company called New Petros in the United States.

The proposal was made by Finance Minister Basil Rajapaksa. Ministers Vasudeva Nanayakkara, Wimal Weerawansa and Udaya Gammanpila have objected to the proposal.

 According to the report that the cabinet paper was not included in the agenda of the cabinet meeting that day and that it had not been distributed to the ministers before the cabinet meeting and the relevant ministers had objected to this.

It has also been criticized for handing over the project to one party without calling for tenders.

 The transfer of 40 percent of the power plant’s treasury shares to an American company will bring Sri Lanka $ 300 million.