Minister tells South African delegation :

Only companies listed in RUEA will be acquired

The Government has no intention of acquiring business ventures apart from those scheduled in the Revival of Underperforming Enterprises Act (RUEA), said Economic Development Minister Basil Rajapaksa at a discussion with the South African delegation which visited Sri Lanka last week. Minister Rajapaksa said that all these ventures had belonged earlier either to the Government or built on government property.

Minister Rajapaksa was addressing a meeting with the South African delegation headed by Deputy Minister of International Relations and Cooperation of South Africa Ebrahim Ismil Ebrahim at the ministry. The Minister said that the Government has no other option than to rehabilitate these organisations since the Government cannot allow them to deteriorate further as they

belong to the country.

The only option would be for the Government acquire these institutions and rehabilitate or hand them back to the private sector.

South Africa’s Ambassador in Sri Lanka Geoffrey Quinton said that it would have been better had the Government taken steps to explain the real situation.

According to a ministry spokesperson, the Minister had briefed the delegation on the peace-building efforts, Northern and Eastern Rehabilitation and reconstruction programs apart from economic development programs.

At the outset views were exchanged on internal conflicts which had affected both countries for a long period of time.

The South African Deputy Minister said that peace-building is a long term process and the basic principle is to build confidence among those affected.

DY