Home » Committee Formed to Explore Private Sector Utilization of Excess Land in State Plantations Corporation

Committee Formed to Explore Private Sector Utilization of Excess Land in State Plantations Corporation

written by CN Source

March 16, Colombo (LNW):State Minister of Finance, Ranjith Siyambalapitiya, has announced the formation of a committee tasked with investigating the feasibility of transferring surplus land owned by the Sri Lanka State Plantations Corporation to the private sector.

According to Siyambalapitiya, the committee will assess which lands are suitable for transfer and develop the appropriate procedures for such transactions. Emphasizing a competitive process, he stated that prospective parties must focus on export-oriented agricultural production and utilize advanced agricultural technologies.

Furthermore, Siyambalapitiya highlighted the necessity for interested companies to possess the financial resources to meet these requirements and stressed that they must be of Sri Lankan origin.

The committee’s current focus lies in identifying underutilized lands within the State Plantations Corporation’s portfolio. Siyambalapitiya clarified that the proposed initiative would not involve the outright sale of land but rather leasing arrangements with the private sector.

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written by CN Source

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