Asset Sale

The government hopes to sell off a further 8.5 percent of its shares held in Sri Lanka Telecom this year, as part of its privatisation programme.
Last November, the government disposed a 12.5 percent slice of SLT through an initial public offering.rn

rnOther state entities earmarked for disposal include CPCs assets and market network, a 69 percent stake in Hilton Hotel and CWEs retail business.rn

rnCPCs assets up for disposal include retail distribution outlets, bulk depots and aviation fuel sector. Indian Oil Corp has already picked up 100 retail outlets and the Trincomalee tank storage facility from CPC.rn

rnA few parties have shown interest in the governments share in the Hilton Hotel. The hotel is wrapped up in a dispute with its Japanese contractors, who built the hotel in the early 1990s with two floors less than what was contracted.rn

rnThe governments holding in Ceylon Hotel Corp., balance plantation companies, road development and a construction company, as well as a 49 percent in Shel