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The Public Enterprise Reform Commission (PERC) will shortly re-advertise the government
quote s intensions to infuse private ownership into 13 cash strapped state bus companies.rn

rnThe move to re-advertise the proposal comes following a court ruling on Tuesday, directing the government to give a clear indication as to how much it hopes to sell in the bus companies.rn

rnA petition was filed in court against the transaction, pointing out that the PERC had initially proposed a 50:50 public-private ownership.rn

rnThe government subsequently cut the private sector holding to 39 percent, to ease political and union fears that the transaction was not a form of privatisation. rn

rnHowever, investors were given a choice of bidding for individual stakes or for all 13 together. rn

rnThe court ruling forced PERC to halt the sale, which billed to take place on Tuesday.rn

rnOnce the advertisements come out, the thrice derailed bus deal will be disposed on the Colombo bourse in three weeks, Economic Advisor to