Dec 15, Colombo: The Sri Lankan government has decided to purchase over 2,000 new buses for the Sri Lanka Transport Board (SLTB) fleet while selling the non-economical and unserviceable buses to pay dues to the EPF and ETF accounts of the Board's employees.
The government has reportedly agreed to a recommendation made by Transport Minister Kumara Welgama to purchase 2,200 new buses for the SLTB from next year.
The entire purchase, which is to take place within a period of five years, is to cost over Rs. 5 billion.
The Transport Minister has proposed to the government to commence negotiations for a supplier's credit scheme with the respective bus manufacturer.
The Cabinet of Ministers has appointed a negotiating committee to discuss the bulk discounts offered by the company.
The monies generated from the sale of non-economical and unserviceable buses will be used to settle the arrears payments to the EPF and ETF accounts of SLTB employees.