Several State-Owned Enterprises in Sri Lanka to undergo divestment process

Ministry of finance in Sri Lanka

A decision has been reached for the divestment of shares held by the state of several enterprises based on a cabinet decision reached on 13th March 2023, the State Owned Enterprises Restructuring Unit of the Finance Ministry announced.

The State-Owned Enterprises that will undergo the process are as follows:

  1. SriLankan Airlines and SriLankan Catering
  2. Sri Lanka Telecom PLC
  3. Sri Lanka Insurance Corporation Limited
  4. Canwill Holdings (Pvt) Ltd – Grand Hyatt Colombo
  5. Hotel Developers (Lanka) Ltd – Hilton Hotel Colombo
  6. Litro Gas Terminal Lanka (Pvt) Ltd & Litro Gas Lanka Ltd
  7. Lanka Hospitals PLC

The divestment is to be implemented by the State Owned Enterprises Restructuring Unit under the Ministry of Finance, Economic Stabilization and National Policies.

A statement noted that qualified and experienced companies will be appointed for the purpose of consultation or development of the said State-Owned Enterprises by the State Owned Enterprises Restructuring Unit.