The Government has decided to include a fresh condition to the agreement it intends signing with China Harbour Ltd on the management of the Hambantota Port.
The Government’s stake is expected to increase to 40 per cent, after ten years from the date of signing this agreement. Under the earlier agreement, the government was to own a 30 per cent stake.
“The government has arrived at this decision after estimating the amount it was hoping to receive from debt to equity swap,” sources said.
Although arrangements are being finalized to sign the agreement with the China Harbour, the economic affairs committee appointed to deal with the matter will meet President Maithripala Sirisena to brief him about the latest developments. (Yohan Perera)