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Sri Lanka to sell-off state shares in hotels, ‘non-strategic’ firms: PM

ECONOMYNEXT – Sri Lanka will sell-off ‘non-strategic’ firms in the stock exchange and infrastructure agencies will be allowed to raise capital through special purpose vehicles, Prime Minister Ranil Wickramasinghe said.

There were several ‘non-strategic’ firms including those that had ended up in government hands accidentally, which will be sold off in the Colombo Stock Exchange, Wickremesinghe told parliament delivering a policy statement similar to the first section of a budget speech.

These included several hotels and Lanka Hospitals, he said.

Infrastructure and support firms will also be allowed to raise capital through the stock exchange through Special Purpose Vehicles, Wickramasinghe said.

He said a limited company called the Public Wealth Trust will be set up to own other state enterprises styled after Temasek Holdings of Singapore. (Colombo/Nov05/2015)

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