Sri Lanka will‘re-structure’ SriLankan Airlines, Sri Lanka Telecom, Sri Lanka Insurance and through a state enterprise reform unit, President Ranil Wickremesinghe said.
The proceeds will be used to strengthen foreign reserves, he said presenting a budget for 2023.
Sri Lanka Telecom is already a listed company in which Malaysia’s UT group already owns almost half.
The Colombo Hilton is owned by Hotel Developers, a former listed company expropriated by the Rajapaksa regime.
Sri Lanka Insurance was also a former privatized firm retaken to the state after a court case.
SriLankan Airlines was also retaken to the state by President Mahinda Rajapaksa.
