Sri Lanka to establish new institution to maximize utilization of government lands

The Cabinet of Ministers has approved a proposal submitted by the President for the establishment of an institution under the name Assets Utilization Reformation Commission with powers to take necessary measures for productively utilize the identified underutilized assets.

“It has become a pioneer requirement to introduce an appropriate methodology for utilizing state ventures with assets including the government lands rendered on long time lease but is underutilized, condominium properties delayed of construction activities due to various reasons and underutilized lands,” the proposal said.

“As per the Budget speech 2021, immediate actions should be taken for ensuring the maximum utilization of underutilized assets including the lands for the betterment of the nation and the national economic development.”