December 2, 2024
Home » Damitha Abeyratne

Damitha Abeyratne

You may have missed

save
3 min read

Investigation Shelved: NSSF President Linked to Illegal Importation of Weapons, Ammunition & Fraud

Editor December 1, 2024
**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.
2 min read

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

Editor December 1, 2024
Sri Lanka to Defer Imputed Rental Tax Amid Revenue Concerns
2 min read

Sri Lanka to Defer Imputed Rental Tax Amid Revenue Concerns

Editor December 1, 2024
Israel-Hezbollah Ceasefire Quietens Lebanon, But Gaza Conflict Intensifies
3 min read

Israel-Hezbollah Ceasefire Quietens Lebanon, But Gaza Conflict Intensifies

Editor December 1, 2024