Sri Lanka Treasury to identify investors for the government-acquired companies

Dec 26, Colombo: Sri Lanka’s Treasury is in the process of identifying investors for the 37 state institutions taken over by the government under the Revival of Underperforming Enterprises and Underutilized Assets Act.

The government has appointed Competent Authorities to manage these institutions, 27 of which are currently closed or non-opeartional. The Board of Investment will identify investors for institutions coming under it.

The Director General of the State Ventures Department of the Treasury S R Atigala has said that reports about 6 institutions have been directed to Officials Committee and subsequently they will be presented to the Cabinet Sub Committee, state-run radio SLBC reported.

The Government Agents of Hambantota and Moneragala function as Competent Authorities for the Pelawatte and Sevenagala Sugar Factories respectively. Two Chief Executive Officers have also been appointed to these Institutions and the payment of salaries for employees of the Institution is also being carried out.

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