The Sri Lankan Cabinet has approved a sweeping proposal by President Anura Kumara Dissanayake to shut down 33 non-operational State-Owned Enterprises (SOEs), marking a key phase in the government’s ongoing public sector reform agenda aimed at improving fiscal discipline and eliminating economic waste.
Acting in his capacity as Minister of Finance, Economic Stabilisation, and National Policy, President Dissanayake presented the proposal to liquidate non-functional SOEs whose original mandates — from public service delivery to promoting strategic sectors — are now deemed incompatible with current market realities or national priorities.
“These enterprises have ceased to deliver public value, either due to outdated objectives, poor financial performance, or irrelevance to the present economic context,” said Cabinet Spokesperson Dr. Nalinda Jayatissa.
The closures will take place in two stages, overseen by the Special Liquidation Unit under the Ministry of Finance. The first phase includes high-profile entities such as:
• Mihin Lanka (Pvt.) Ltd.
• Lanka Cement PLC
• Selendiva Investments Ltd.
• Magampura Ports Management Company (Pvt.) Ltd.
• Techno Park Development Company (Pvt.) Ltd.
• Commonwealth Games Hambantota 2018 (Pvt.) Ltd.
• Media Training Institute
• Asian Games (Pvt.) Ltd.
• Lanka Logistics and Technologies Ltd.
• Expressway Transport (Pvt.) Ltd.
The government argues that keeping these SOEs afloat would only burden taxpayers without offering measurable contributions to the economy or public services.
This move aligns with broader efforts to streamline the state apparatus, reduce public sector spending, and redirect limited resources to areas of higher national priority, including health, education, and infrastructure.
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