Press briefing of Cabinet Decision taken on 2016-04-06

Criteria for Consideration for Appointment of Chairmen and Board of Directors of State Owned Enterprises (SOEs)

- The lack of a clear-cut policy directive, weaknesses in decision making at senior management level, making decisions in absence of consideration in market competitiveness, the interference of politicians in making appointments, trying to fulfill the ambitions of political parties and the lack of formal guidelines for appointment of persons to managerial level, have been the reasons for the decline in the performance of public enterprises. As such, the adoption of a formal and transparent methodology, when the appointment of Chairmen and members of the Director Boards of Public Enterprises are made, to regularize the operations, is a timely need. Accordingly, H.E. the President has appointed a Special Committee to examine the suitability of the nominations made for the posts of Chairmen / Members of the Director Boards, and Chief Executive Officers of Public Enterprises and make recommendations; and the proposal made by Hon. Ranil Wickremasinghe in his capacity as the Minister of National Policies and Economic Affairs to make those recommendations made applicable to consider such criteria as Managerial and Professional experience, the Maximum Age Limit, the Tenure of Office and the limits on such Tenures of Service, provisions for the prevention of Conflict of Interest and illegibility conditions, was approved by the Cabinet.