Sri Lanka to liquidate 33 inactive SOEs

Sri Lanka to liquidate 33 inactive SOEs

ECONOMYNEXT – Sri Lanka will liquidate 33 state enterprises which were no longer active and had been set up for purposes which longer existed, Cabinet spokesman Nalinda Jayatissa said. Among the firms include Mihin Lanka, a budget airline, Lanka Cement Company, Lanka Logistics, Hambantota Port Management Company, Expressway Transport Company, he said. The state companies were mostly inactive with no staff he said. Some of the firms mentioned wer…

Govt Moves to Shut Down 33 Defunct State Entities Under Restructuring Drive - LNW Lanka News Web

September 04, Colombo (LNW): The Cabinet has approved a proposal to formally dissolve 33 dormant state-owned institutions as part of a broader programme aimed at overhauling Sri Lanka’s bloated public sector and streamlining government expenditure.The closures will take place in two stages, targeting a diverse set of entities—including statutory bodies, state corporations, and government-owned companies—that have long ceased to function in any m…

Sri Lanka to close 33 inactive State-Owned Enterprises

FILE PHOTO The Cabinet of Ministers has decided to close down several state-owned enterprises in Sri Lanka that are no longer active or contributing to the national economy. Many of these enterprises were established years ago to provide public services and support strategic economic activities. However, they have now become inactive due to changing national needs, lack of market relevance, and poor financial performance. The government has reco…