Colombo

Sri Lanka’s Cabinet has approved a new Bill to investigate and manage the fixed assets of 1,600 government institutions, according to State Minister for Finance Ranjith Siyambalapitiya. He explained that the State Assets Management Bill aims to address the mismanagement of these assets and improve oversight. Currently, more than 1,600 government entities, including around 91,000 vehicles, are inadequately managed. The Bill, presented by President Ranil Wickremesinghe, who also serves as Finance Minister, seeks to enhance asset management and service delivery to the public.