Thrown Out

The Board of Investment is trying to spin off its infrastructure procurement arm – the Bureau of Infrastructure Investment (BII) for easier administration. The Board of Investment is trying to spin off its infrastructure procurement arm – the Bureau of Infrastructure Investment (BII) for easier administration.

The BII – essentially a procurement agency for large state projects, is currently run by the state’s investment promotion agency, the BOI, which says procurement is not central to its core function.

The Board of Investment has approached the Public Enterprise Reform Commission (PERC) to take it over, also easing administration costs. The deal is likely to go through.

“The BOI has had a dialogue with PERC to transfer the legal entity to either stay as the BII or a similar agency under PERC. They have not officially agreed but it will probably happen,” Saliya Wickramasuriya, Director General of the Board of Investment told LBO on Tuesday.

“The BII is currently a legal shell for us at the moment. It has a role in the government’s procurement process and I would rather it go in with an agency that is involved in procurement and similar fun