Govt. assets to be investigated, managed under Public Assets Management Act: Siyambalapitiya

Colombo, July 24 (Daily Mirror) - The assets of all government institutions in the country are ready to be investigated into and brought under proper management through the Public Assets Management Act, Finance State Minister Ranjith Siyambalapitiya said.

He said that there are more than 1,600 government-owned institutions and their assets are not properly managed and there are about 91,000 vehicles in these institutions.

He mentiond that the government is ready to pay more attention to fixed assets and manage them properly and provide more effective service to the people.

Cabinet approved the relevant bill presented by President Ranil Wickremesinghe as the Minister of Finance.

Meanwhile, the Economic Transformation Bill, which was previously presented to Parliament, is scheduled to be debated tomorrow (25).

Minister Siyambalapitiya further said that many measures have been taken to improve the living standards of the people.

Also said the legal framework related to economic reforms will be adjusted to suit the era, as well as an export-oriented economy and a favourable environment for foreign investment.