President Anura Kumara Dissanayake’s proposal to close down 33 inactive state enterprises in two phases has been approved by the Cabinet, marking a decisive step to cut government burdens and streamline the economy.
The Cabinet has approved President and Finance Minister Anura Kumara Dissanayake’s plan to liquidate 33 non-functional state enterprises that have long been a drain on the public purse. These institutions, originally set up to provide essential public services or promote strategic economic goals, have failed to keep pace with market needs and changing national priorities.
Over time, many of these state corporations, statutory bodies, and government-owned companies have become obsolete. Their objectives no longer align with the demands of the present economy, while continuous financial losses have turned them into liabilities rather than assets.
Recognizing that such entities make little contribution to national growth or public service, the government has opted for closure. The decision aims to relieve the state of a heavy financial burden and redirect resources toward more productive ventures.
The liquidation process will be managed in two stages by a dedicated unit established under the Ministry of Finance, Planning and Economic Development. This unit will oversee the shutdown, ensuring that the closures are carried out formally and efficiently.
The move reflects the government’s broader reform agenda to reshape the state sector, eliminate inefficiency, and restore fiscal discipline. For President Anura Kumara Dissanayake, this is not only an economic decision but also a political signal that his administration intends to tackle waste and restructure the role of the government in the economy.
▪Following institutions will be closed under the first stage.
- Asian Games (Pvt) Ltd
- Selendiva Investments Ltd
- Lanka Logistics and Technologies Ltd
- Commonwealth Games Hambantota 2018 (Pvt) Ltd
- Magampura Ports Management Company (Pvt) Ltd.
- Mihin Lanka (Pvt) Ltd
- Techno Park Development Company (Pvt.) Ltd.
- Media Training Institute
- Lanka Cement PLC
- Expressway Transport (Pvt) Ltd
