PERC generates income of Rs. 26b

The Public Enterprise Reform Commission (PERC) finalised assignments for bids, offers and investment to re develop several properties, which has resulted in securing an income of over Rs. 26 billion for the Government.

It has also been decided to introduce value addition for Mineral Sands which is now being exported in raw form. PERC has also decided to re-advertise for the re development of the BCC.

The National Procurement Agency in terms of Government Policy appointed Cabinet Appointed Negotiating Committees and Project Committees in respect of each of the above Assignments, will handle the assignments.

Progress was made on the above Assignments and Report, Assignments processed and submitted, on the direction of the President, for Cabinet Approval, to consider implementation. Following are the assignments and their values that were to be considered for implementation.

- SS

Bid/ Offer / Investment (Rs.Mn)

1. Sale of Union Place - National Paper Corporation Land and Building (Approved by Cabinet) 450

2. Re - Development of Kantale Sugar Industries (Approved by Cabinet) 3,200

3. 99-Year Lease of 12 Acres Land Sir James Peiris Mawatha, 5,500

4. Re - Development of Hingurana Sugar Industries To be negotiated 49% 125+ lease rental 3.6 p.a.

5. Project to Manufacture Soluble Phosphate Fertilizer 14,760 (Approved by Cabinet)

6. Re- Development of Embilipitiya Paper Mills 211 (At present Treasury pays Rs. 7 Mn. per month to Employees)

7. Sale of Land & Building 349, Galle Road, Colombo 3 278 (Approved by Cabinet)

8. Renewal / Granting New Licenses for Importation & Marketing of Lubricants

- From Present 6 Parties 60

- New Parties @ Rs. 7.5 Mn. each

9. Sri Lanka Rubber Manufacturing & Export Corporation Ltd.

- 3 Rubber Products Factories / Lands 92

- Auction Sale of 2 Lands / Factories (Approved by Cabinet)

10. Re- Development of Kahatagaha Graphite Lanka Ltd. Chief Valuer's Valuation for Land & Buildings Rs 70.7 Mn. (Valuations pending for other items) Financial Proposal to be opened, pending Valuations *

11. Janatha Estates Development Board. - Plantations (Valuations pending from Chief Valuer) 9 Financial Proposals to be opened, pending Valuations Blocks of 1 Hectare of Land to be granted to Employees / Villagers under 'out grower' schemes, where possible

12. Sri Lanka State Plantations Corporation - Plantations (Valuation pending from Chief Valuer) 8 Financial Proposals to be opened, pending Blocks of 1 Hectare of Land to be granted to Employees / Villagers under 'out grower' schemes', where possible

13. Elkaduwa Plantations Ltd. - Plantations (Valuation pending from Chief Valuer) 6 Financial Proposals to be opened, pending Valuations Blocks of 1 Hectare of Land to be granted to Employees / Villagers under 'out grower' schemes, where possible