State Minister for Urban Development and Housing, Arundika Fernando, has announced that state enterprises are now open to private sector investments, but only at the government’s assessed value.
This directive is in accordance with President Ranil Wickremesinghe’s instruction that state enterprises should not be offered for private sector investments below their assessed value.
Fernando made these remarks at a press briefing held at the Presidential Media Centre on Wednesday.
“The government has granted authorization to seek investors for various enterprises falling under the purview of the Ministry of Urban Development and Housing, with the aim of ensuring their systematic maintenance,”
He said that this move is anticipated to facilitate transparent investment procedures for establishments like the Hilton Hotel, ultimately strengthening the financial reserves of the government, distributing shares among employees, and fostering orderly management of these entities.
“President Ranil Wickremesinghe has directed not to offer state enterprises in private sector investments below their assessed value. There is no room for any private investor to acquire state enterprises below the government’s appraisal value,” Fernando stressed. (Newswire)
