The Cabinet has approved the proposal tabled by President Ranil Wickremesinghe in his capacity as the Finance Minister for the establishment of a Unit to restructure public enterprises.
Accordingly, the new restructuring unit will be established under the Ministry of Finance, Economic Stabilisation and National Policy.
The objectives of establishing a unit for public enterprise restructuring are to;
- Identify ways to reduce the financial burden assigned to the Treasury from public enterprises whose performance is not satisfactory;
- Provide necessary guidance and support in the reformation of public enterprises with the aim of improving the overall performance of state-owned enterprises.
MIAP