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New Govt Takes Cautious Approach to SOE Restructuring, Focuses on Private Sector Growth

**New Government Takes Cautious Approach to SOE Restructuring, Focuses on Private Sector Growth** Duminda Hulangamuwa, Senior Economic Advisor to Sri Lankan President Anura Kumara Dissanayake, emphasized that the new government is prioritizing a liberal market strategy, encouraging the private sector to lead the country's economic development. Speaking on *Ada Derana’s* *@HydePark* program, Hulangamuwa highlighted that while the government supports privatization in certain areas, it will maintain control over strategic sectors essential to public interest. ### Careful Evaluation of State-Owned Enterprises (SOEs) Addressing concerns about the restructuring of state-owned enterprises (SOEs), Hulangamuwa clarified that the government is taking a measured approach. Rather than rushing into decisions, authorities are carefully analyzing which SOEs are financially burdensome and which can continue to operate without draining the national treasury. “Restructuring does not mean selling off assets recklessly,” Hulangamuwa said, underscoring the importance of formulating a well-structured policy before making significant changes. He also noted that some SOEs are currently operating without being a financial burden, indicating that privatization may not be necessary for all state entities. ### SriLankan Airlines Under Review One of the key SOEs under consideration is SriLankan Airlines, which has long been a financial strain on the government. Hulangamuwa revealed that discussions are underway to restructure the airline’s balance sheets. He stressed the importance of maintaining a national airline but reiterated that the country's broader economic interests must take precedence. “Sri Lanka must have an airline,” he said, “but the country comes first.” This suggests that while SriLankan Airlines will likely undergo significant financial restructuring, its strategic importance to the nation will be preserved. ### Balancing Liberalization with Public Interest The government's liberal market strategy aims to create a favorable environment for private investment while ensuring that key sectors remain under public control. This approach reflects a broader effort to balance economic liberalization with safeguarding national interests, particularly in areas critical to public welfare and national security. Hulangamuwa concluded by emphasizing that the government needs time to implement its policies effectively. The focus will remain on encouraging private sector growth while carefully navigating the complexities of SOE restructuring to ensure long-term economic stability.

New Govt Takes Cautious Approach to SOE Restructuring, Focuses on Private Sector Growth

Editor December 1, 2024

Duminda Hulangamuwa, Senior Economic Advisor to Sri Lankan President Anura Kumara Dissanayake, emphasized that the new government...

Sri Lanka to Defer Imputed Rental Tax Amid Revenue Concerns

Editor December 1, 2024

Sri Lanka has decided to defer the implementation of a controversial imputed rental tax on owner-occupied houses,...

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A Port City with Modern Infrastructure for Galle

Editor December 1, 2024

A 45-hectare area along Galle Bay is set to undergo a major redevelopment, transforming the region with...

CJS highlights conservation, the sparkle of Christmas in three stunning new collections

Editor December 1, 2024

Founder Oceanswell Dr Asha de Vos joins CJS to highlight Pandas of the Sea Collection – the...

CBSL to Raise Rs. 192 Billion in Treasury Bill Auction on December 4

Editor November 30, 2024

The Central Bank of Sri Lanka (CBSL) is set to raise Rs. 192 billion through an auction...

Revised Fuel Prices (Effective from Midnight Today) yjrtjrtjhthbe

Revised Fuel Prices (Effective from Midnight Today)

Editor November 30, 2024

Fuel Type Price Change New Price (LKR) Octane 92 Petrol Reduced by 2 309 Lanka Super Diesel...

Major Bank Faces Collapse Due to Fraud Involving Hela Apparel Executives

Editor November 30, 2024

A major private bank in Sri Lanka is at risk of financial collapse following a large-scale fraud...

Rice Importers Request Tax Cut to Reduce Prices Amid Supply Shortage

Editor November 29, 2024

The Essential Food Importers and Wholesalers Association has appealed to President Anura Kumara Dissanayake to reduce the...

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Father and Son Flee Sri Lanka After Multi-Billion Rupee Fraud, Private Bank in Crisis

Editor November 29, 2024

A major private bank in Sri Lanka is teetering on the edge of a financial crisis after...

Govt to Import Swarna Nadu Rice from India at Rs. 100 per Kilo Amid Local Shortage

Editor November 29, 2024

Sri Lanka is set to import 70,000 metric tons of Swarna Nadu rice from India as part...

Economy

New Govt Takes Cautious Approach to SOE Restructuring, Focuses on Private Sector Growth

Sri Lanka to Defer Imputed Rental Tax Amid Revenue Concerns

A Port City with Modern Infrastructure for Galle

CJS highlights conservation, the sparkle of Christmas in three stunning new collections

CBSL to Raise Rs. 192 Billion in Treasury Bill Auction on December 4

Revised Fuel Prices (Effective from Midnight Today)

Major Bank Faces Collapse Due to Fraud Involving Hela Apparel Executives

Rice Importers Request Tax Cut to Reduce Prices Amid Supply Shortage

Father and Son Flee Sri Lanka After Multi-Billion Rupee Fraud, Private Bank in Crisis

Govt to Import Swarna Nadu Rice from India at Rs. 100 per Kilo Amid Local Shortage

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