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New state-owned company to run expressway buses
View(s):The Government has decided to establish an Expressway Transport Company (Pvt.) Limited to operate public transport services. The move comes on a recommendation by President Mahinda Rajapaksa, who is also the Minister of Highways, Ports and Shipping.
The fully state-owned company will come under the Treasury. Even the Articles of Association of the new company and the appointment of directors will be subject to Treasury approval. Ministerial sources said yesterday that 15 per cent of the public transport services on expressways would be operated by the new company. Whilst 35 per cent will be given to the Sri Lanka Transport Board, the remaining 50 per cent would be for the private sector.
A five member official Committee has been appointed to determine the criteria for the select private bus owners who want to operate on expressways. It comprises a representative of the Treasury as chairman, the Secretary to the Ministry of Transport or a nominee, the Secretary to the Ministry of Private Transport Services, the Chief Secretary of the Western Province and the Chief Secretary of the Southern Province.