The Investor Sentiment - Equity and investments forum for Sri Lankans
The Investor Sentiment - Equity and investments forum for Sri Lankans
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Please send an email to contact.lankaninvestor@gmail.com if you face any technical difficulties when posting
Search
Display results as :
Advanced Search
Latest topics
HAYC - HaycarbMon Oct 26, 2020 9:58 amsubash
Plantation Sector UpdatesTue Oct 20, 2020 3:11 pmslstock
LWL.N0000 (Lanka Walltiles PLC)Fri Oct 16, 2020 12:50 amsubash
CSE Daylight Robbery !Mon Sep 21, 2020 9:54 pmYin-Yang
Trading Journal Tue Sep 15, 2020 10:37 pmThe Invisible
AEL Access EngineeringTue Sep 15, 2020 7:24 pmsmallville
CFVF - First CapitalWed Sep 09, 2020 9:42 pmWonderer
අනං මනං! #/+?.<>Tue Aug 18, 2020 11:15 pmYin-Yang
Dividend AnnouncementsMon Aug 17, 2020 1:27 pmRana
Ceylon Tobacco CTCSun Aug 16, 2020 5:11 pmThe Invisible
Sunshine HoldingsFri Aug 14, 2020 9:39 pmThe Invisible
Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Go down
avatar
Rana
Top contributor
Top contributor
Posts : 1786
Join date : 2015-12-16

Sri Lanka to sell-down SOEs through stock market: Eran Empty Sri Lanka to sell-down SOEs through stock market: Eran

on Mon Mar 13, 2017 10:12 am
http://www.economynext.com/Sri_Lanka_to_sell_down_SOEs_through_stock_market__Eran-3-7552-1.html
ECONOMYNXT - Sri Lanka would use the stock market infrastructure to sell down stakes in state-owned enterprises, which will enhance transparency, after political consensus has been achieved within the ruling coalition, Deputy State Enterprises Minister Eran Wickramaratne said.

"Actually, we have set in place the process to market some of these institutions that are completely owned by the government," Wickramaratne said. "We may want to release shares in stages, and hold on to a portion of it."

Wickramaratne said a formula to give shares to longstanding employees is also being considered.

Sri Lanka's Prime Minister Ranil Wickremesinghe and Finance Minister Ravi Karunanayake has said repeatedly that 'non-strategic' SOE including hotels and hospitals will be sold.

Such selloffs can fast-track domestic and foreign direct investment, and signal that Sri Lanka has changed tack from the policies followed by the Rajapaksa administration, economic analysts say.

Critics say the current administration is now bogged down in Rajapaksa era policies of price controls, mis-using and expanding state enterprises, and had also slapped retrospective taxes, harming the investment environment the same way expropriation did in the last regime.

Meanwhile, Wickramaratne said political consensus within the coalition was key to taking the process forward.

"As the next step, a political decision will have to be made as to the special situation (involving the coalition government) as well as to the timing," he said. "That is a political decision. We will obviously reach an agreement."

Sri Lanka's Colombo Stock Exchange already has a mechanism to sell 'all-or-nothing' stakes. The state also controls several listed companies or has large stakes in them, such as Lanka hospitals.
Back to top
Permissions in this forum:
You cannot reply to topics in this forum