The financially-stressed Sri Lankan government is looking to privatise several sectors of the economy to raise money. Colombo had invited proposals from potential investors from November 10.

Jio Platforms, Gortune International Investment Holding Ltd, and Pettigo Comercio International were the three potential bidders.

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The proposals will be "evaluated as per the Special Guidelines on Divestiture of State-Owned Enterprises approved by the Cabinet of Ministers".

The island nation is also mandated by International Monetary Fund (IMF) programmes to push for privatisation of non-core sectors.