Press briefing of Cabinet Decision taken on 2023-01-02

State-Owned Enterprise Restructuring Programme

- The proposal for restructuring the State Owned Enterprises(SOE) was submitted to Parliament by the Hon. President when presenting the Interim Budget - 2022 as well as the Budget 2023. Accordingly, SOEs Restructuring Unit has already been established under the Ministry of Finance, Economic Stabilization and National Policies to provide necessary facilities for the restructuring process of the State Owned Enterprises. Certain institutions from among those to be restructured are fully state owned companies whereas the government has a majority shares in some other companies. Further, some state owned enterprises operate as corporations. Accordingly, the proposal made by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to incorporate a holding company affiliated to the General Treasury with 100% equity ownership held by the Secretary to the Treasury in order to expedite the restructuring programme of the State Owned Enterprises under the above situation and make necessary provisions for the registration of state enterprises identified for restructuring, as the institutions affiliated to that holding company, was approved by the Cabinet.