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* Sri Lankan government to purchase over 2,000 new buses for state transport sector
Sun, Dec 15, 2013, 10:52 pm SL Time, ColomboPage News Desk, Sri Lanka.

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.

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