Feb 23, Colombo: The Sri Lankan cabinet of ministers has given approval to establish a fully state-owned company to support the country’s poultry industry.
Acting on a proposal put forward by the Minister of Livestock and Rural Community Arumugam Thondaman, the cabinet has approved the forming of Sri Lanka Poultry Development Company (Pvt.) Ltd.
The National Livestock Development Board (NLDB) will purchase 49% of the shares of Sri Lanka-Libya Agricultural and Livestock Development Company Ltd (LANLIB), a Sri Lanka – Libya joint venture to form the new company.
LANLIB is a joint partnership company established in 1981 with 51 % of the shares owned by the NLDB and 49% by Libya to carry on agricultural and livestock projects in Sri Lanka.