The Public Enterprises Reform Commission
quote s (PERC) Director General Deepal Gunaratne says twelve preliminary Expression of Interests were submitted, when the deadline closed Monday for twelve regional and one cluster bus company.
rnldblquote We will shortlist investors based on the information provided and ask them to submit their financial bids detailing their business proposal,
dblquote Gunaratne told Lanka Business Online.
rnHe said the business proposal will spell out the amount of funding investors are willing to cough up towards the equity of the company concerned.
rnldblquote Once this comes through at the end of the month, we will then seek cabinet approval together with a base price for each company before its sold on the market,
dblquote Gunaratne said.
rnHe added that both local and foreign parties had responded to the invitation.
rnEarlier PERC had asked interested parties to submit bids showing proposed development plans including the efficient use of existing operational fleet,