Any PPP for UL must get P’ment approval: CoPE

Wednesday, 21 August 2019 00:00 -     - {{hitsCtrl.values.hits}}

The Committee on Public Enterprises (CoPE) yesterday made it mandatory for the national carrier SriLankan Airlines and the Government to obtain Parliament approval for any Public-Private Partnership (PPP) plans before entering into agreements.

During the meeting, the Board of Directors requested the Government to reduce the withholding tax, Ceylon Petroleum Corporation (CPC) to sell aviation fuels at a lesser price for SriLankan Airlines, and to have a grace period to settle the outstanding Rs. 102 billion, enabling them to turn around the loss-making airline within the next 12 months. (AH)