Proprietors can apply with a new plan for their companies acquired by Sri Lankan government

14 November 2011: The Sri Lankan government has decided to permit the owners or the administration of the 37 companies that are to be acquired following the new legislation on underperforming and underutilized assets to re-apply for the ownership of their companies. The government planned to appoint a Competent Authority to properly administer the enterprises and to arrange for their take over by proper investors. The former owners or administration of the acquired companies could also re-apply with a new plan for the companies. The government would definitely re-consider the requests and take appropriate action.

Source: Colombopage