Cabinet approves proposal to close 33 SOEs under two stages

The Cabinet of Ministers has approved a proposal presented by President Anura Kumara Dissanayake, in his capacity as the Minister of Finance, Economic Stabilization, and National Policy, to formally close down 33 non-operational State-Owned Enterprises (SOEs) as part of Phase 2 of the government’s state-sector reform program.

The closures will be carried out systematically after the establishment of a Special Liquidation Unit under the Ministry of Finance.

The decision has been taken with the objective of eliminating wastage, improving fiscal discipline, and redirecting resources toward more productive sectors.

This decision aligns with the government’s broader strategy to streamline the public sector, reduce state expenditure, and enhance the efficiency and accountability of public enterprises, said the Cabinet Spokesman Dr. Nalinda Jayatissa.

According to the Cabinet Minister following institutions will be closed under the first stage.

•        Asian Games (Pvt) Ltd

•        Selendiva Investments Ltd

•        Lanka Logistics and Technologies Ltd

•        Commonwealth Games Hambantota 2018 (Pvt) Ltd

•        Magampura Ports Management Company (Pvt) Ltd.

•        Mihin Lanka (Pvt) Ltd

•        Techno Park Development Company (Pvt.) Ltd.

•        Media Training Institute

•        Lanka Cement PLC

•        Expressway Transport (Pvt) Ltd