Cabinet nod to gazette and table proposed State Asset Management Bill

Wednesday, 24 July 2024 00:10 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers on Monday approved proposal forwarded by the President in his capacity as the Finance, Economic Stabilisation and National Policies Minister to publish the draft Bill on State Asset Management in the Government gazette notification and submit the same in Parliament for approval.

The move comes following the clearance received by the Attorney General to the draft prepared by the Legal Draftsman.

On 17 October 2022, Cabinet approved identifying movable or immovable non-finance assets that a State institution fully owns, transferred, acquired, divested or borne by or utilised and to prepare a national assets register while updating it from time to time and to introduce a law on State assets management including provisions for confirming the receipts of proper benefits of those assets to the State institutions.

The move intends to evaluate and properly manage the non-financial assets belonging to the State up till now politically and purposely shut down by successive regimes during the past several decades.