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SL struggling to revive state-owned businesses

The Sri Lankan Government is struggling to revive entities owned by the state, the Sunday Times reports.

23 public companies, which have been underperforming for years, were supposed to be re-structured and handed over to prospective investors.

However, only one agreement with an investor has been finalised, while 19 other companies are still waiting for an evaluation by the State Resources and Enterprise Development Ministry to assess possibilities for investors.

The government passed a controversial law last week authorising the takeover of struggling, private companies by the state.

See Sunday Times article here.