ISSN: 1391 - 0531
Sunday September 16, 2007
Vol. 42 - No 16
Financial Times  

PERC moves to the Treasury

The Public Enterprises Reform Commission (PERC) has been moved under the purview of the Treasury Department's Division of Public Enterprises (DEP) with PERC Chairman W.A.S. Perera and Director General Alexis Silva no longer serving on the Commission. Former PERC Director V. Kanagasabapathy is now serving as the Director General of the DEP. He told The Sunday Times FT that this was in line with a cabinet decision three months ago to repeal PERC. "PERC is still there but we cannot use the name because the functions are under the DEP of the Treasury," he said.

He also said that PERC was established in Parliament under the Public Enterprises Reform Commission of Sri Lanka Act No.1 of 1996 and it is the responsibility of the Attorney General to make preparations for the Act to be repealed, after which a liquidator will be appointed. During this interim period, the duties of PERC are being handled by the DEP. The request was made to the Attorney General's Department three weeks ago and the DEP is waiting for a reply. "We can't say when it will come but we are continuously reminding him," said Kanagasabapathy. He added that functions of the DEP will be to continue the restructuring of public enterprises.

The Sunday Times FT in a report on July 29 quoted informed sources as saying the sudden decision to close PERC was prompted by a discussion paper handed out by PERC raising concerns over plans to sell an SLT stake to Maxis. (NG)


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