The establishment of a limited liability company to develop, expand and manage specialised economic centres in Sri Lanka has received a Cabinet nod.
According to the government, 18 Special Economic Centres have been established to provide market infrastructure facilities for the sale, purchase, storage and distribution of agricultural products.
Out of these economic centres, 14 are currently operational except Vavuniya, Killinochchi, Jaffna and Batticloa.
The government states that the management of these Special Economic Centres is carried out by a management trust consisting of members ex officio appointed by the authority of the State institutions and Trade Associations, under the chairmanship of the District Secretary/ Government Agent of the district, per the Cabinet Decision dated 10 January 2006.
Therefore, the requirement to establish a centralised, legally accepted and accountable institutional structure has been identified for the successful and sustainable carrying out of business activities in these economic centres.
As such, the Cabinet has approved the proposal presented by the Minister of Trade, Commerce, Food Security and Cooperative Development to establish a limited liability company to develop, expand and manage specialised economic centres. (Newswire)
