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Sri Lanka - Cabinet Tourism Minister John Amaratungfe's Eldest Son In Law Dinesh Weerakkody to be banned from Tobacco Company Directorship amidst Government Decision to ban Cigarettes in Sri Lanka by 2020 - Sources

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DealKing

DealKing
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Ceylon Tobacco will soon oust Dinesh Weerakkody from Director Board amidst his Father in Law voting to ban Cigarettes from Sri Lanka by 2020.According to Sources British American Tobacco Management had asked Weerakkody to resign.


Sources note that whilst Sri Lanka's Cabinet Tourism Minister John Amaratunge's Son In Law Dinesh Weerakkody is also in Country's largest Cigarette manufacturer Ceylon Tobacco Director Board - Sri Lanka's Health Services Director General Dr. Palitha Mahipala had marketed a slogan saying President Sirisena and Cabinet had granted approval to ban Cigarettes in Sri Lanka by 2020.


In the outline Sri Lanka's largest conglomerate John Keels Chairman is Ceylon Tobacco Chairman too and British American Tobacco owned Ceylon Tobacco pays over 10% or over Rs.50 billion to 60 billion annually as Sri Lanka's Tax Revenue means a portion of Sirisena's, Ranil's and all Ministers and Parliamentarians salary, telephone bills, fuel and country's public investments are paid and compensated by Cigarette consumers and Smokers of Sri Lanka and obviously it is doubtful whether Sirirsena when he is supposed exit from Presidency by 2020 or any other President or Prime Minister in Sri Lanka can ban Cigarettes in the country by even 2020 or 2100 as it make country's to run into a 'Further Budget Deficit' losing finances...And world over Ranil's Masters Britain and America and Canada are legalizing Ganja (Under Medical Marijuana companies) and Indian Tobacco alone is building a hotel in Sri Lanka called ITC Colombo next to Taj Samudra Colombo ...and as soon as UNP Ranil came to power in January 2015 on 29th January from Interim Budget Finance Minister Ravi Karunanayake brought the Indian Mix Beedy Industry in Sri Lanka to a more legal tax frame to increase Tax Revenue meaning directly Beedy Consumers are also compensating government. as per analysts.

jaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

This ban is Contradict to the Promotion of Tourism and bad impact to hotel trade.

DealKing

DealKing
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Some say Weerakkody is also selling Cigarette Packets unofficially at a cheaper price to a network of small and boutique restaurants and hotels where as Weerakkody get those hundreds of Cigarette Packets free from Ceylon Tobacco as complimentary every month since he is on the Director Board.

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