Sri Lanka, Sept. 10 -- The Advocata Institute welcomes the decision by the Cabinet of Ministers, on the proposal of President Anura Kumara Dissanayake in his capacity as Minister of Finance, Economic Stabilization and National Policy, to formally close 33 non-operational State-Owned Enterprises (SOEs) under Phase 2 of the government's state-sector reform program.
The move, to be implemented through a Special Liquidation Unit under the Ministry of Finance, is a first step toward eliminating waste, improving fiscal discipline, and redirecting scarce resources to more productive sectors of the economy.
Sri Lanka's SOEs, numbering over 400 across 33 sectors and employing nearly 250,000 people, account for around 4.5% of the country's total pu...