The government said yesterday the Competent Authorities (CA) appointed to manage the 37 enterprises whose lease agreements were abrogated under the controversial ‘Revival of Underperforming Enterprises and Underutilised Assets’ would prepare their corporate plan to convert the business ventures into profit-making entities.
 
Cabinet spokesman and Media Minister Keheliya Rambukwella told the weekly news briefing that a cabinet sub-committee headed by Environment Minister Anura Priyadhrshana Yapa and an ‘Officials’ Committee has been appointed to ensure the overall monitoring of these business ventures. 

“The main objective of the government is to bring these ventures to the level of private sector profit making commercial establishments and to provide employment opportunities and compete in the local and global market with their products. The government will provide all necessary incentives and the CAs will be responsible to manage them with extreme financial and administrative discipline,” the minister said.

He said the government envisages the providing for the effective management, administration and revival of these enterprises with national interest. It has been found that most of these enterprises have obtained many BOl concessions and had not fulfilled the assurances given to the BOI.

The Cabinet has approved a memo submitted by the President to appoint Competent Authorities for the enterprises listed in the Act.
 
The Competent Authorities are:

• Lawyer Kalinga Indatissa for Lanka Tractors Limited, Charmers Granaries, Ceylinco Leisure Properties Ltd and Intertrade Lanka (private) Ltd.
• Lawyer Senaka Walgampaya for Hotel Developers Lanka Plc. (HDL).
• Hambantota District Secretary for Pelwatte Sugar Industries Ltd.
• Monaragala  District Secretary for Sevanagala Sugar Industries Ltd.
• Badulla District Secretary for Colombo Commercial Company Limited (Badulla Property) and
• Tuly Cooray for the rest of the underutilised assets - BOl Factories deemed to be closed.
• Other members of the Cabinet sub Committee are Ministers Dilan Perera, Reginald Cooray, Lakshman Seneviratne and Deputy Finance Minister Geethanjana Gunawardena.

The appointment of a three-member separate Compensation Tribunal under the Chairmanship of the Chief Government Valuer was also approved by the Cabinet.
 
The Officials’ Committee consisting of six Officials to assist the Cabinet Sub Committee is still to be named. (Sandun A. Jayasekera)