Government is planning to raise a record Rs. 26 billion through privatization and asset sales next according to the Finance Ministry. Government is planning to raise a record Rs. 26 billion through privatization and asset sales next according to the Finance Ministry. If achieved, the amount will be a record for privatization and asset sales.
However, the finance ministry did not provide a breakdown of the government assets they plan to sell.
However, the finance minister told LBR before the budget that efforts were underway to attract a third player to down steam petroleum marketing.
The ministry was also trying to sell stakes it owns in some city hotels and residue stakes in SLT and other holdings.
Meanwhile, Sri Lanka Telecom (SLT) is expected to prematurely settle all loans outstanding to the government through money raised from its international bond issue.
SLT says they will pay US$ 40 million to the Treasury by Tuesday from the US$ 100 million raised.
The loans from the government were due for settlement in 2006.
An SLT spokesperson said the company was not under pressure to repay the loan ear