Treasury owned entity to expedite restructuring SOEs

COLOMBO (News 1st) - The Cabinet of Ministers granted approval to set up an entity attached to the treasury to expedite the restructuring process of State Owned Enterprises.

Cabinet Spokesperson Bandula Gunawardena told reporters that this entity will facilitate the process of restructuring the SOEs.

The 2023 Sri Lankan budget noted the urgency of restructuring State-Owned Enterprises, and a Unit dedicated unit was established at the Ministry of Finance with the specific task of restructuring SOEs.

The Cabinet has given the green light to set up a parent company attached to the treasury, where the Treasury Secretary will hold 100% of all shares, to expedite the restructuring process of State Owned Enterprises.