Transfer of Colombo Dockyard Shares Poses National Security Threat: Pubudu Jayagoda
15-Apr-2026.
Pubudu Jayagoda, Education Secretary of the Frontline Socialist Party, has stated that Indian parties have confirmed the purchase of a majority stake in the internationally reputed Colombo Dockyard Company by an Indian state-owned enterprise.
He claimed that as a result, strategically important lands and resources linked to the Colombo and Trincomalee ports have now come under India’s control.
In a special statement issued on the matter, Jayagoda said the current government, influenced by liberal economic advisers who argued that the government should not be involved in shipbuilding and repairs, has ultimately sold the company to an Indian state enterprise.
He further noted that the buyer is reportedly linked to India’s Ministry of Defence and is involved in warship production. He warned that if India becomes involved in a future conflict, the Colombo and Trincomalee ports could become direct targets for opposing forces, posing serious risks to Sri Lanka.
Jayagoda said the situation becomes even more serious when viewed alongside a defence cooperation agreement allegedly signed secretly on April 5, 2025 between President Anura Kumara Dissanayake and Indian Prime Minister Narendra Modi.
He alleged that the agreement includes provisions allowing India to maintain arms manufacturing facilities and weapon storage sites in Sri Lanka, which could draw Sri Lanka unnecessarily into global or regional conflicts.
He rejected claims that Sri Lanka had no role in the transfer of shares from the Japanese company to India, stating that the original agreement required Treasury approval for any resale.
Jayagoda said despite strong public appeals not to sell the shares to India, the government approved the deal due to secret understandings with India.
He further criticised both the government and the parliamentary opposition, stating that excessive focus on corruption narratives has prevented the public from recognising major national security concerns. He warned that future generations may pay a heavy price for this silence.
He concluded by stating that since both the government and opposition follow the same policy direction, a new political force must be built to defeat anti-people policies and promote an agenda loyal to the country and its citizens.
