Govt plans to revive chronic loss-making SOE with billions in losses

• CNL Reporter
• March 27, 2025
• Political
• Sri Lanka’s cabinet has decided to revive a state-owned enterprise known for decades of losses
• 0 Comments

Sri Lanka’s cabinet has decided to revive a state-owned enterprise known for decades of losses, and was one of the top three loss making agencies in the 2001 currency crisis that led to the first economic contraction in post independent history.

The cabinet of minister had decided to re-activate the Co-Operative Wholesale Establishment, a government statement said.In 2024.09.02 the then cabinet had decided to liquidate the agency.

The is a “possibility to perform a decisive role” within the market objective of continuous supply of quality goods and services to the public under a reasonable price” and the cabinet had decided to reverse the liquidation decision.

The cabinet had approved the proposal by the Minister of Trade, Commerce, Food Security and Co-operative Development to recommence the business activities under a ‘feasible business plan.’

The CWE had lost 2,238 million rupees in 2019 and 990 million rupees in 2019 according to the last publicly available accounts