Press briefing of Cabinet Decision taken on 2017-10-03

Introduction of Statement of Corporate Intent (SCI) for State Owned Enterprises

- Approximately 400 State Owned Enterprises (SOE) engaged in both 'Commercial' and 'Non‑Commercial' activities are operating in the country. Out of these, 55 State Owned Enterprises that generate income by engaging in commercial activities have been categorized as 'State Owned Business Enterprises - SOBEs' considering their importance. Therefore, it has been decided to introduce a Statement of Corporate Intent (SCI) as a management tool to improve the annual performance of the SOEs. Accordingly, having selected five (5) extremely important SOE's required to operate with high efficiency in the economy, Statements of Corporate Intent (SCI) have already been signed with the said institutions.

It is necessary to Introduce the SCI for other SOE's as well, with a view to improving the contribution made by the SOE's for the growth of the economy and accordingly, the proposal made by Hon. Mangala Samaraweera, the Minister of Finance and Mass Media, to enter into SCI with another 10 SOE's, effective from the year 2018, was approved by the Cabinet.