Minister Lal Kantha’s assets exceed Rs. 80 million; not Rs. 460 million

The lawyer of Minister K.D. Lal Kantha has sent a letter of demand to Hiru News stating that its previous reporting on the minister’s declaration of assets and liabilities was inaccurate.

According to the notice, the value of the minister’s securities and the total gross value of his assets, as reported earlier, were incorrect.

However, under the right of correction, Hiru News has re-evaluated these figures and issued this clarification.

On the 16th, Hiru News reported on the declaration of assets and liabilities submitted by Minister K.D. Lal Kantha to the Commission to Investigate Allegations of Bribery or Corruption for the years 2024 and 2025, covering both his and his family’s assets.

According to the declaration, his immovable assets include a 2,500 square foot residential building and 10 perches of land valued at Rs. 6 million, received as a gift, a permanent building and 20 perches of land valued at Rs. 2.5 million and a 4,500 square foot residential building and 14 perches of land valued at Rs. 56 million.

In addition, he declared inherited property consisting of a 1,500 square foot residential and commercial building on 2 roods and 7.26 perches of land, valued at Rs. 2.5 million.

His movable assets include 8 sovereigns worth of gold jewellery valued at Rs. 1.6 million, 120 grams of gold worth Rs. 3 million and a motor vehicle valued at Rs. 4.5 million.

Hiru News also reported that the minister earns an annual salary of Rs. 738,918.16, Rs. 400,000 annually from property rentals and a pension income of Rs. 771,400.

Additionally, income from fixed deposits was reported as Rs. 2,755,851.97 per year, and Rs. 1.8 million annually was listed as income from his current employment.

Based on the declaration submitted to the Bribery Commission, no discrepancies were initially identified in the reporting.

However, the legal notice highlighted errors in the reported value of securities and the total gross value of assets.

Hiru News wishes to make it evident that the previously reported total value of the minister’s securities—Rs. 383,906,705.40—was due to a calculation error.

According to the declaration, the correct value should be Rs. 143,475.08.

Furthermore, the earlier report that the total gross value of assets exceeded Rs. 460 million was also incorrect and resulted from a calculation mistake.

The corrected estimate indicates that the total value of the minister’s assets exceeds approximately Rs. 80 million.

Hiru News wishes to express regret for the inconvenience caused to Minister K.D. Lal Kantha. This clarification is being published under the media’s right of correction.