News
Four-floor ministry building to be sold to private company
A Nawam Mawatha prime building that comes under the purview of the Ministry of Livestock and Rural Community Development is to be sold to a private company despite protests by workers. The four floor building which earlier housed the Sri Lanka Libya Agriculture and Livestock Development Co (Pvt) Ltd (LANLIB) has been offered to a private tea exporter.
Livestock Ministry Secretary K.M.T. Kendaragama said the building was first offered to MILCO but it declined the offer because of the lack of funds. Therefore, the ministry has now decided to sell the building to a leading tea exportin company for Rs. 600 million. Earlier the Government decided that LANLIB should not be wound up, but instead continue as a fully Government-owned company by acquiring 49 per cent of shares held by Libyan Foreign Investment Company (LFICO).
The Government decided that the National Livestock Development Board (NLDB) could purchase the shares by using its resources.
In March this year it was decided to release Rs. 350 million from the Ministry to the NLDB to purchase LFICO shares in LANLIB to settle liabilities.
LANLIB workers were paid compensation and other liabilities, amounting to Rs. 271 million and the company was closed.
Workers had opposed the sale of the building, pointing out that it was contrary to the Mahinda Chinthanaya.