Sri Lanka to Revamp State Firms: No More Bailouts
- CNL Reporter
- May 1, 2025
- Political
- Sri Lanka
- 0 Comments
Sri Lanka is launching a major overhaul of its State-Owned Enterprises (SOEs), aiming to boost their efficiency and accountability, Deputy Minister of Economic Development Dr. Anil Jayantha announced Wednesday.
“Each SOE is unique and will be assessed individually. Restructuring doesn’t mean selling everything—it’s about what works best,” Dr. Jayantha clarified. He emphasized that while divestiture is one option, tailored reforms will involve a mix of strategies, potentially including private sector participation.
A cabinet-appointed expert committee will oversee the process, guided by amended legal frameworks. Though no fixed timeline was shared, Dr. Jayantha assured that the initiative will be backed by budgetary provisions.
He highlighted that while some SOEs serve vital regulatory roles and are not profit-driven, others must become financially self-sufficient. “Enterprises meant to generate revenue cannot expect treasury bailouts. Their boards must ensure long-term sustainability,” he warned.
