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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

By The Morning Telegraph 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

By The Morning Telegraph December 1, 2024

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

Sarvajana Balaya Is the Only Party to Rise Amid the Collapse of Traditional Politics – Dilith Jayaweera

By The Morning Telegraph December 1, 2024

Dilith Jayaweera, leader of the Sarvajana Balaya movement and prominent entrepreneur, declared that his party is the...

“Fuel Prices to Be Strictly Regulated in January” – Minister of Science and Technology "Fuel Prices to Be Strictly Regulated in January" – Minister of Science and Technology

“Fuel Prices to Be Strictly Regulated in January” – Minister of Science and Technology

By The Morning Telegraph December 1, 2024

Minister of Science and Technology, Professor Krishantha Abeysena, announced that while fuel prices have seen an increase,...

“The Government is Immature, and We Have No Choice but to Endure Its Actions” – Prof. Nirmal Devasiri – (Video) "The Government is Immature, and We Have No Choice but to Endure Its Actions" – Prof. Nirmal Devasiri - (Video)

“The Government is Immature, and We Have No Choice but to Endure Its Actions” – Prof. Nirmal Devasiri – (Video)

By The Morning Telegraph December 1, 2024

Professor Nirmal Ranjith Devasiri, a political analyst and academic associated with Malima, has criticized the government’s recent...

“If Another Govt Had Done This, Namal Would Be on the Streets” – Seelarathana Thero "If Another Govt Had Done This, Namal Would Be on the Streets" – Seelarathana Thero

“If Another Govt Had Done This, Namal Would Be on the Streets” – Seelarathana Thero

By The Morning Telegraph December 1, 2024

Janasetha Peramuna leader, Battaramulla Seelarathana Thero, has criticized the current government for what he describes as its...

“Electricity Bills to Be Reduced by 30% in Three Years” – Wasantha Samarasinghe "Electricity Bills to Be Reduced by 30% in Three Years" - Wasantha Samarasinghe

“Electricity Bills to Be Reduced by 30% in Three Years” – Wasantha Samarasinghe

By The Morning Telegraph December 1, 2024

Minister of Trade, Commerce, Food Security, and Cooperative Development, Wasantha Samarasinghe, announced that the government has initiated...

“Give Even the Local Government Vote to the NPP” – Sagara Kariyawasam "Give Even the Local Government Vote to the NPP" – Sagara Kariyawasam

“Give Even the Local Government Vote to the NPP” – Sagara Kariyawasam

By The Morning Telegraph December 1, 2024

Attorney-at-Law Sagara Kariyawasam, General Secretary of the Sri Lanka Podujana Peramuna (SLPP), expressed that the National People’s...

Laugfs Announces Arrival of Gas Ship, Ensures Continuous Supply Across Island

By The Morning Telegraph December 1, 2024

Niroshan Peiris, CEO of Laugfs Gas Company, confirmed that a ship carrying 22,000 metric tons of liquefied...

Sivajilingam Commemorates Prabhakaran’s Birthday, Police Intervene

By The Morning Telegraph December 1, 2024

On November 27, Tamil nationalist politician M.K. Sivajilingam led a commemorative event in Jaffna to mark the...

Sri Lanka

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

Sri Lanka to Defer Imputed Rental Tax Amid Revenue Concerns

Sarvajana Balaya Is the Only Party to Rise Amid the Collapse of Traditional Politics – Dilith Jayaweera

“Fuel Prices to Be Strictly Regulated in January” – Minister of Science and Technology

“The Government is Immature, and We Have No Choice but to Endure Its Actions” – Prof. Nirmal Devasiri – (Video)

“If Another Govt Had Done This, Namal Would Be on the Streets” – Seelarathana Thero

“Electricity Bills to Be Reduced by 30% in Three Years” – Wasantha Samarasinghe

“Give Even the Local Government Vote to the NPP” – Sagara Kariyawasam

Laugfs Announces Arrival of Gas Ship, Ensures Continuous Supply Across Island

Sivajilingam Commemorates Prabhakaran’s Birthday, Police Intervene

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