Mar 14, 2017

Loss making state institutions will be sold – Eran Featured

The government says a political decision will be taken to sell loss-making state institutions after obtaining approval from its key affiliate parties. quotes deputy minister of state enterprises Eran Wickramaratne as saying that with their approval, the shares of state institutions will be sold in the share market in a transparent manner.

Plans have been made to make these institutions attractive to investors, he says, adding that the state will retain shares while introducing a formula to give shares to long-serving employees as well.

Both prime minister Ranil Wickremesinghe and finance minister Ravi Karunanayake have said that loss-making state institutions would be sold.

That will pave the way for a speeding up of local and foreign direct investments and it is also an indication the present regime’s policies are different to those of the previous Rajapaksa administration.

Wickramaratne is hopeful the political agreement within the government will enable this process to become reality.

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