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Minister
says plans to sell CPC shelved He said plans to sell one thirds of the CPC shares to India’s Bharat Petroleum had been shelved and the government had no plans to sell the Ceylon Electricity Board. The Sunday Times learns that the minister and the Strategic Enterprises Management Agency (SEMA), a body that look into the revival of loss making state institutions, have given an assurance to JVP and other trade unions that the plans for the sale of the shares in the CPC had been shelved. SEMA, headed by presidential advisor Mano Tittawella, has said that it believed that the CPC could be converted to a profit-making organization, as the sale of shares to the Lanka Indian Oil Company had not brought the desired results. The decision to shelve the CPC deal comes days after Prime Minister Mahinda Rajapakse and the JVP signed a 12-point agreement, which among other demands, calls for an end to privatization. Financne Minister Sarath Amunugama was among those who strongly defended plans to privatize the CEB and the CPC claiming that the Treasury would not be able to undertake the financial burden due to the losses suffered by the two institutions. |
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