He has submitted a cabinet paper in that regard and obtained approval for same.
The estate and factory are to be sold to the private sector despite its having earned profits of around Rs. one million a month since this year.
However, Dissanayake says cabinet approval has been granted to run the institution together with the private sector only.
According to him, fraud and corruption is rampant at St. Joachim estate, although it earns profits due to high tea prices.
However, the minister is yet to take any action with regard to the Tea Smallholdings Development Authority, which the media says is a very corrupt institution.
Sri Lanka Mirror reported previously that its chairman is to waste around Rs. 60 million by holding an unnecessary function today (12).