Next Halt

The last day to submit expressions of interest for the 39 percent stake in the remaining seven bus companies have been put off till January 10, 2003.
The original deadline was set for December 20, 2002. rn

rnPublic Enterprise Reform Commission (PERC) Director General Deepal Guneratne told Lanka Business Online that three parties had shown interest by submitting preliminary proposals. rn

rnGuneratne said the deadline was stretched to January to give time for the parties to make detailed proposals. rn

rnParties qualifying to take up the 39 per cent stake will bid for the seven bus companies over the Colombo Stock Exchange trading system on January 16, Gunaratne added. rn

rnFailing to attract interest in the first round of divesture, where stakes in 13 bus companies were up for grabs, the government is offering state guarantees to raise funds for working capital and investments, subject to preset conditions as an added incentive to bidders taking up stakes in the seven remaining bus companies. rn