Sri Lanka to set up new SOE to manage Lotus tower

ECONOMYNEXT – Sri Lanka will set up a new state enterprise to operate a tower build for the telecom regulator, the state information office said.

The cabinet has approved a proposal to give powers to the Treasury to set up a company to quickly commercialize the tower.

The Lotus Tower was built by a Chinese firm for the Telecom Regulatory Commission of Sri Lanka.

The TRC is cash rich from license fees paid by mobile operators in particular.

The proposal was submitted by the minister of defence The telecom regulatory commission comes under the ministry of defence. (Colombo/Sept04/2019)

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