Bus stand deal approved

The Cabinet has given approval to a proposal for a private company to develop the Pettah Central Bus Stand. According to the proposal, the private company, would manage and maintain the Central Bus Stand premises. In return the company would be allowed to display hoardings in the premises and earn revenue. The company wiould be given authority to manage and let or rent or enter into contracts with other parties regarding business opportunities in the premises of the bus stand.

At present the management of the premises and advertising and business opportunities are handled by the Sri Lanka Transport Board (SLTB). By the agreement with the company the SLTB would lose the authority and any opportunity to earn revenue by renting the property. The agreement with the private company is being discussed by the SLTB board of directors. Nevertheless the company has already started renovations at the bus stand.