The Sri Lankan government has decided to relocate several key government institutions currently operating in rented buildings to state-owned premises, aiming to significantly reduce the financial burden of high rental expenses. Minister of Industry and Enterprise Development, Sunil Handunnetti, made the announcement in Parliament on December 5, revealing the government’s plan to optimize public spending and manage state resources more effectively.
Minister Handunnetti outlined the substantial costs associated with the current rental arrangements for government institutions. He disclosed that the National Gem and Jewellery Authority is paying Rs. 5,100 per month for each of its rented buildings, which adds up to a considerable expense over time. Similarly, the Ministry of Commerce is facing a massive financial strain, spending Rs. 6.5 million monthly on rental costs alone. These high rental payments have prompted the government to take decisive action in order to alleviate the burden on public finances.
As part of the new initiative, these institutions will be relocated to available government-owned buildings, thereby eliminating the need for expensive rented spaces. The government is also exploring underutilized or vacant properties in its possession that can be repurposed for this purpose. The move is expected to result in substantial savings, redirecting funds that were previously allocated for rent towards more productive areas such as infrastructure development and public services.
Minister Handunnetti emphasized that this decision is part of a broader governmental effort to streamline operations, reduce inefficiencies, and ensure that public funds are utilized in a way that maximizes the benefit to the citizens. The government’s commitment to reducing operational costs is seen as essential in the context of economic challenges, with efforts to optimize state resources and improve the overall fiscal health of the nation.
