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SAITM shares to be offered on the stock market

20 April 2017 - 248   - 0

The ownership of the SAITM (South Asian Institute of Technology and Medicine) is to be broad-based with its shares to be made available for sale in the stock market, President Maithripala Sirisena said.

He said the decision has been taken as a further solution to the SAITM issue in addition to previous government decisions which have already been announced.

He said that the Inter University Students Federation too have complained about the ownership of SAITM and therefore the move will enable any person to purchases shares of the company. 

He said that the government's policy was to promote non-state education. The President was addressing heads of media institutions and editors. 

Health Minister Rajitha Senaratne said once a proper guidelines have been establish to administer SAITM, it would also be applicable to two other private medical colleges proposed to be set up by the Monash University in Australia and Manipal University in India. 

The President pointed out that 75,000 to 85,000 Sri Lankan students go abroad annually for higher education and if there are private institutions in Sri Lanka, it would be a great relief to them as the cost would be much less.

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