Reverse Gear

Kris Canekeratne at LBR LBO Tech Conference

Sri Lankas 13 bus companies may continue under state control for longer, as attempts to bring in private management steers off course.
Industry watchers say plans for a state lead restructuring programme were being touted as a contingency measure in case the Sri Lankan government fails to seal any deals. rn

rnIf the state takes up the cause, industry sources say a new government appointment management would be put in place to implement the restructuring programme and plans to bring in private management would be put off until the reforms take root. rn

rnAny proposed restructuring programme will learn from recent state led initiatives to restructure large public organisation such as the Cooperative Wholesale Establishment (CWE).rn

rnA cabinet appointed tender board is due to meet on February 27 to decide the fate of the bus companies.rn

rnPERC and other state officials close to the programme were unavailable for confirmation of the latest development. rn

rnThe contingency measures come as th