Govt. reverses decision to liquidate CWC, plans revival
- CNL Reporter
- March 28, 2025
- Political
- Co-operative Wholesale Corporation
- 0 Comments
In a bold policy shift, the Cabinet of Ministers on Monday (24) scrapped the previous decision to liquidate the Co-operative Wholesale Corporation (CWC), commonly known as Sathosa – opting instead to revive its operations based on a feasible business plan.
Cabinet Spokesman and Minister Dr. Nalinda Jayatissa yesterday said this turnaround is part of a sweeping reform drive targeting over 100 underperforming State institutions approved by the Cabinet-appointed committee led by the Secretary to the Prime Minister
“The committee has already conducted a deep dive into 160 State institutions and submitted recommendations for 124 institutions, categorising them under nine groups, whilst the remaining institutions will undergo further scrutiny.
The initial decision to dissolve the CWC, established under the Co-operative Wholesale Corporation Act No.47 of 1949, was made at a Cabinet meeting on 2 September 2024 by the previous administration.
