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Monday, April 22, 2024

Public Enterprise Restructuring Unit to be set up

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The Cabinet of Ministers has granted approval to the proposal by President Ranil Wickremesinghe as Finance, Economic Stabilization and National Policies Minister to establish a Public Enterprise Restructuring Unit under the Finance, Economic Stabilization and National Policies Ministry order to guide and assist in the restructuring the public enterprises.

With the establishment of this unit, it is expected to identify the methods for minimizing the financial burden shouldered by the General Treasury as well as enhance the total performance of public enterprise.

The Government Information Department sources said that the performance of the commercial enterprises owned by the government has not been satisfactory for a long time and some of those enterprises are continuously running at loss. Since this has alarmed the General Treasury causing extreme pressure, a remedial mechanism should be introduced for maintaining such enterprises more efficiently and productively.

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