State Minister of Finance Ranjith Siyambalapitiya says that a committee has been appointed to investigate the possibilities of handing over excess land under the Sri Lanka State Plantations Corporation, to the private sector.

He says that the lands that should be handed over to the private sector and the proper procedure to do so will be looked into by the committee.

He says that under this competitive procedure, the parties that undertake the lands should focus on export-based productions and that they should use the most advanced agricultural technologies.

He adds that the companies must also possess the capital to fulfill these criteria.

The State Minister also says that these companies must be Sri Lankan.

Siyambalapitiya says that the committee is currently working on identifying underperforming lands.

State Minister Ranjith Siyambalapitiya says that this procedure will not involve the sale of the plots of land and that they will be rented to the private sector.