News
Government to proceed with restructuring of public enterprises
16 May, 2023
The Government is to proceed with a proposal to restructure public enterprises, based on a Cabinet paper put forward by President Ranil Wickremesinghe.
At a meeting held on 05.09.2022, the Cabinet of Ministers approved the establishment of a Public Enterprise Restructuring Unit under the Ministry of Finance, Economic Stabilization and National Polices in order to provide necessary guidance and assistance regarding the restructuring of public enterprises.
The policy was prepared with the aim of improving the quality, price and accessibility of goods and services provided by public enterprises, removing the financial impact of such enterprises on the treasury and creating a competitive and market-based business environment to attract private investors.
As such, the Cabinet of Ministers has now approved a proposal presented by President Ranil Wickremesighe in his capacity as the Minister of Finance, Economic Stabilization and National Policies to proceed with the restructuring of public enterprises based on the Government policy. (Colombo Gazette)
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