Acquired companies in Colombo to be assigned under the Defence Ministry .

Out of the 36 enterprises acquired by the government and handed over to the Treasury Secretary under the laws to revive under performing and under utilized assets, the actions of the Competent Authorities appointed five companies located in Colombo would be monitored and operated by the Defence and Urban Development Ministry.

President Mahinda Rajapaksa has assigned this task to the Defence and Urban Development Ministry through gazette notification number 1736/23 issued on December 14th.

Therefore the assets belonging the Charmer’s Granary in Pettah, Lanka Tractors in Colombo, former Cashew Corporation land, Ceylinco Leisure Properties in Colpetty and another company have been assigned to the Defence and Urban Development Ministry.

Meanwhile, the Economic Development Ministry has been assigned the task of monitoring the functions of 29 other companies acquired by the government.

The affairs of the Competent Authorities appointed to the Sevanagala and Pelwatte Sugar Companies are being monitored by the Productivity Promotions Ministry.

The respective District Secretaries have been appointed as the Competent Authorities of the companies acquired and the assets have been vested with the Treasury Secretary according to the Act.

-Ravaya
LNW