Sri Lankan state enterprises open for private investments

Colombo, May 22 (IANS) Sri Lankan State Minister for Urban Development and Housing Arundika Fernando announced on Wednesday that state enterprises are now open to private sector investments, but only at the government's assessed value, according to the president's media division (PMD), reports Xinhua News Agency.

This directive aligns with President Ranil Wickremesinghe's instruction that state enterprises should not be offered for private sector investments below their assessed value, PMD said.

The government has granted authorization to seek investors for various enterprises falling under the purview of the ministry, with the aim of ensuring their systematic maintenance, according to the PMD.

This move is anticipated to facilitate transparent investment procedures for establishments like Hilton Hotel, ultimately enhancing the financial reserves of the government and the orderly management of these entities, the PMD said.

Disclaimer: This story has not been edited by the Sakshi Post team and is auto-generated from syndicated feed.