Sri Lanka parliament abolishes PERC

The Sri Lankan parliament Wednesday approved the abolishing of the Public Enterprises Reform Commission (PERC).

The abolishing was made official after parliament unanimously approved a Bill to repeal the PERC Act of 1996.

PERC was set up in 1996 under the then People's Alliance government to handle the privatization of several important state institutions.

The Public Enterprises Department of the Treasury is now to take over the staff and assets of PERC.