Minister of Foreign Employment and Welfare Dilan Perera, Minister of Minor Export Crop Promotion Reginald Cooray, Minister of Productivity Promotion Lakshman Seneviratne and Deputy Minister of Finance and Planning Geethanjana Gunawardena are the other members of the Committee.

“The main objective of the government is to bring these ventures to the level of private sector profit making commercial establishments and to provide employment opportunities and compete in the local and global market with their products. The government will provide all necessary incentives and the CAs will be responsible to manage them with extreme financial and administrative discipline,” the minister said.

He said the government envisages the providing for the effective management, administration and revival of these enterprises with national interest. It has been found that most of these enterprises have obtained many BOl concessions and had not fulfilled the assurances given to the BOI.

The Cabinet, acting on a proposal made by the President in his capacity as the Minister of Finance and Planning, has also approved the appointment of a three- member separate Compensation Tribunal under the chairmanship of the Chief Government Valuer to pay compensation within 12 months from the receipt of a claim by the Tribunal.

The Competent Authorities are:

• Lawyer Kalinga Indatissa for Lanka Tractors Limited, Chalmes Granaries, Ceylinco Leisure Properties Ltd and Intertrade Lanka (private) Ltd.
• Lawyer Senaka Walgampaya for Hotel Developers Lanka Plc. (HDL).
• Hambantota District Secretary for Pelwatte Sugar Industries Ltd.
• Monaragala District Secretary for Sevanagala Sugar Industries Ltd.
• Badulla District Secretary for Colombo Commercial Company Limited (Badulla Property)
• Tuly Cooray for the rest of the underutilised assets - BOl Factories deemed to be closed.