Press briefing of Cabinet Decision taken on 2022-09-05

Establishment of a State - Owned Enterprises Restructuring Unit

- The commercial businesses owned by the Government have not been performing satisfactorily for a long time and some of such businesses are continuously running at a loss owing to different reasons. As this situation has caused a severe pressure on the General Treasury, an alternative mechanism has to be introduced to operate such businesses efficiently and effectively. Accordingly, the Cabinet approved the proposal made by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to establish the State-Owned Enterprises Restructuring Unit under the Ministry of Finance, Economic Stabilization and National Policies to provide necessary guidance and assist in reforming state-owned enterprises aiming to identifying possible ways to minimize the fiscal burden on the General Treasury and improving the overall performance of those state-owned enterprises.