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* Online lottery company to pay Rs. 500 million per year to Sri Lanka's education fund
Sun, Mar 16, 2014, 07:29 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 16, Colombo: A private company that is to operate an online lottery will pay Rs. 500 million per year to an education fund administered by the Sri Lankan government, according to a government minister.

Internal Trade Minister Johnston Fernando has said the company will make this annual payment to the Mahapola Education Fund in the next three years.

The Minister told the media that the company had already paid Rs. 100 million and would increase the contribution to Rs. 1 billion in the fifth year of operation.

The main opposition United National Party (UNP) has raised doubts over Oceanic Games (Private) Limited, which has been given management of the lottery to be operated in collaboration with eGame Solutions, a Hong Kong-based company.

According to Minister Fernando, Oceanic Games (Pvt) Limited did not have a license to operate the on-line lottery but had been given its management after open tenders were called a year ago.

He added that the government had not given a lottery license to anyone in the private sector, but a license for the Mahapola Fund.

The Minister further noted that the government has given the management of the Education Fund to the private company.

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