Jan 28, Colombo: Sri Lanka's main opposition United National Party (UNP) says the government is to give a stake in Chinese funded development projects to the government of China in lieu of the monies needed to be paid for loan payments.

UNP parliamentarian and economist Dr. Harsha de Silva said the government was in the process of selling the country's assets to China.

He has observed that the government has handed over many large scale construction projects to Chinese companies without calling for tenders and any transparency.

He has pointed out that the Lotus Tower project and other development projects have been given to the Chinese without calling tenders.

According to Dr. de Silva, the Chinese have not given any money to Sri Lanka as grants from January to November last year although the government has claimed it has received funding assistance from China.

He has noted that data to prove this fact have already been tabled in parliament.

All loans taken from China are on high commercial interest rates, the parliamentarian said.