Tuesday, May 21, 2024

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Proposal to suspend funds on and restructure five public bodies – CEB, CPC included

The State Enterprise Restructuring Board has tabled a proposal to suspend government funds received to five state-run bodies and restructure them.

These bodies include SriLankan Airlines, the Ceylon Electricity Board, the Ceylon Petroleum Corporation, the Water Supply and Drainage Board and the Sri Lanka Transport Board.

Out of 527 state-run enterprises, 77 incurred a loss of Rs. 1.2 trillion during the period of 2006 – 2020, while another 55 earned a profit of Rs. 1.27 trillion accounting to the same period.

Among the bodies proposed for restructuring, SriLankan Airlines incurred a total loss of Rs. 330 billion and amount borrowed from the Treasury amounts to Rs. 43.5 billion (Rs.43,530,000,000.00).


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