July 29, Colombo: The high-level committee appointed by the Sri Lankan Cabinet to look into the purchase of a 51 percent stake in Sri Lanka's major liquefied petroleum distributor Shell Lanka Gas Company is to complete the negotiations within the next two days, the Government Information Department said today.

The Chairman of the Committee and the Secretary to the Prime Minister S. Amerasekera has said that the Bank of Ceylon has completed the Due Diligence report prepared by the Bank in this regard and the Committee expects to receive the report today in order to proceed with the negotiation process.

The Government has decided to repurchase the 51 percent of the company held by the Shell, following privatization by the previous government. At present the government owns the remaining 49 percent.

The government expects with the acquisition of the controlling shares of this Company, it will be able to purchase gas in the global open market at competitive prices and distribute to the consumer at economical rates.