Sri Lanka to sell-down stakes in listed companies shortly: Finance Minister

ECONOMYNEXT – Sri Lanka plans to sell down government stakes in listed companies by the end of the month, which also serve as a positive signal to investors, Finance Minister Ravi Karunanayake said.

"Non-strategic investments will be sold," Karunanayake told members of the Foreign Correspondents Association of Colombo.

"It will be well co-ordinated joint effort."

The first sale will take place as early as later this month, which will also be a signal to investors, Karunanayake said.

Lanka Hospitals Plc, Hotel Developers which houses Colombo Hilton and another building under construction which is owned by Sri Lanka Insurance are among firms that have been mentioned as possible firms where stakes will be sold down.

Prime Minister Ranil Wickramasinghe had told parliament that there was no need for the government to hold these firms.


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