Loss-making SOEs to face closure or reforms - warns Bandula

COLOMBO (News 1st); Sri Lanka's Cabinet of Ministers granted approval to prepare the budget estimates for the next year aimed at increasing state revenue.

Cabinet Spokesperson Minister Bandula Gunawardena told the weekly cabinet briefing on Tuesday (23) that in order to increase state revenue necessary measures need to be taken on a priority basis.

He said there will be a need to reform state enterprises, and restructure loss-making state institutions.

He warned that some of the loss-making State-owned enterprises will have to be closed down or will have to be reformed, if not it be impossible to continue with the operations of the state.