President Maithripala Sirisena in his capacity as the Minister of Defense presented a Cabinet paper this week to liquidate the Rakna Araksha Lanka Limited in accordance with the guidance provided by the Attorney General.
Parallel to the liquidation, it also proposes to assign the tasks of providing security in land to Civil Security Department, and in sea to Sri Lanka Navy.
The Rakna Araksha Lanka Ltd was established as an government affiliated security service to provide security to special institutions such as economic targets, public institutions, and private institutions considering the then security status in the country as army officers who provided such security had to be deployed in process of maintaining law and order in the country.
The proposal has been made by the President considering the uselessness of such company due to the present peaceful situation in the country and it was approved.