Sri Lanka is planning to ink respective agreements with the three companies in the coming two weeks, said the lawmaker, who joined the political talk show ““360°” political talk show on TV Derana on Monday night.

Last week, the Cabinet of Ministers green-lighted the proposal to grant retail licences to China-based Sinopec, Australia-based United Petroleum and US-based RM Parks Inc., in collaboration of Shell PLC.

The Cabinet approval came after the relevant procurement committees gave their go-ahead and recommendations to award the three companies retail licences to operate in Sri Lanka.

In March, President Ranil Wickremesinghe-led government decided on the divestiture of seven key state-owned enterprises (SOEs) including the Ceylon Petroleum Corporation, SriLankan Airlines, Sri Lanka Telecom. To this end, a SOE Restructuring Unit was also set up by the government.