Government to introduce New Bill for SOE Management Reform
- CNL Reporter
- April 29, 2025
- Political
- SOE
- 0 Comments
The will introduce “State-Owned Commercial Enterprises Management Bill,” aiming to establish a new legal framework for the proper management of State-Owned Enterprises (SOEs). Cabinet of Ministers has granted policy approval for the draft bill
Cabinet Spokesman, Minister Dr. Nalinda Jayatissa, announced that restructuring and efficient management of SOEs are critical to prevent them from burdening the Treasury and the economy.
He emphasized the government’s commitment to creating a transparent, efficient system with local and foreign investments, free from political interference. This initiative marks a significant step in strengthening the role of SOEs in driving sustainable economic growth.
The draft bill proposes appointing qualified professionals to SOE boards to ensure better governance. A special committee, led by Labour Minister Dr. Anil Jayantha Fernando, and including Ministers Sunil Handunnetti and Wasantha Samarasinghe, has been appointed to review and recommend improvements to the draft.
