Archives

Govt-private partnerships in thirteen bus companies

The Government will shortly enter into partnership with the private sector where the latter participates in equity in each of the 13 peoplised bus companies in a bid to make the public sector bus transport service more financially and operationally viable.

"The Government will hand over the new management to the new investor and we'll enter into a shareholders' agreement and the management contract entered into with the new operator and the company. In view of the urgency of this investment, it is proposed to address the regulatory issues through the contractual arrangements until the Transport Regulator is sufficiently strengthened," Chairman of the Public Enterprises Reforms Commission Dr. P. B. Jayasundera told the Daily News in an interview.

The land, building and the immovable assets/ property used by the bus operators will remain as the Government property and will be leased on a long term basis in the form of an annual rental for operational requirements, he said. (Full story on page 19).

News | Business | Features | Editorial | Security
Politics | World | Letters | Sports | Obituaries |

Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.
Comments and suggestions to :Web Manager