The current economic crisis in Sri Lanka – Cabinet memorandum to sell 51% of Yugadanav power plant to American Company

The weekend Sunday Times reports that a cabinet paper has been submitted to sell a 51% in the Yugadanav diesel power plant to an American company.

The report also states that the Cabinet Memorandum has been submitted by the Ministry of Finance.

The Employees Provident Fund, which owns 23.9% of the plant, has refused to transfer its shares to an American company, and the government has sought approval to transfer 51% of the shares held by the Treasury

source – Lanka c news.