Sri Lanka approves Rs 1.06bn equity for Metro Transit

Sri Lanka
By Editor_1
-EN

COLOMBO – Sri Lanka’s Cabinet of Ministers has approved a proposal to provide equity to Lanka Metro Transit (Private) Limited, allocating 800 million rupees within this year and an additional 267.5 million rupees for operations in 2027.

The funds will be utilized for infrastructure development, including a central workshop in Ekala, modern bus depots in Talangama, Kadawatha, Ratmalana, and Homagama, as well as internal roads and parking yards, Minister Nalinda Jayatissa said.

Lanka Metro Transit was incorporated on October 3, 2025, under the Companies Act No. 07 of 2007.

The company initially launched Colombo urban transit pilot operations using 10 low-floor buses.

The firm plans to deploy 112 more low-floor buses in September.

Addressing concerns regarding public sector expansion and potential privatization, Jayatissa claimed the new company aims to strengthen existing transport structures rather than undermine them.

“Nothing like that will happen to the SLTB. What we are doing is strengthening the SLTB to make it efficient,” Jayatissa said.

Jayatissa noted that private operators will continue to function alongside state initiatives to serve commuters.

“It won’t be a problem for the private sector either; they can offer a competitive service,” Jayatissa said.

Jayatissa said that easing traffic requires a progressive shift away from private vehicle dependency.

“The best method tested so far to reduce urban traffic congestion is to strengthen public transport — not to have everyone drive individual private vehicles into cities,” he said, adding that park-and-ride facilities are being constructed to support commuters.

-economynext.com

Editor_1
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