PERC soon under different ministry

The government is gearing to bring the Public Enterprise Reforms Commission (PERC) currently under President Mahinda Rajapaksa’s purview, as a function under the Ministry of Trade and Investment Promotion in a few months.

“This will help the line authorities such as the Board of Investment (BOI) to work in tandem with PERC in order to achieve its objectives,” a senior official at the BOI told The Sunday Times FT.

He said the BOI is looking to be ‘more effective’ and facilitate public private partnership (PPP) projects in the future.
Already the BOI has approved two PPPs of which the private partners are two Indian firms.

“There is a 60 storey building worth US$ 200 million coming up near the Golf Course in Battaramulla and a 55 storey building near Darley Road worth US$ 150 million coming up under PPP projects, which have been facilitated by the BOI,” the official said. He said the government has provided the land for the two Indian firms to develop it and lease the buildings. While many commend the government on the progressive steps taken on the PPPs, some reiterated that there had to be ‘quality projects’ under the PPPs.