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Govt. closely monitor expenditure in state enterprises : Bandula

BY SANDUN A JAYASEKERA

The government has decided to closely monitor and control expenditure of State Owned Enterprises (SOES) in a bid to make them viable entities and not be a liability to the Treasury, Government spokesman, Mass Media, Transport and Highways Minister Bandula Gunawardana said.

“Our intention is to bring them to the level of ‘break-even point’, if not profit making ventures, through a comprehensive and results oriented restructuring programme,” he added.

The government’s power monopoly and the biggest SOE, the Ceylon Electricity Board (CEB) alone has recorded a loss of massive Rs. 56 billion in the first quarter of this year and the estimated total loss of the CEB in 2022 is Rs. 100 billion. According to the Parliamentary oversight committee, the Committee on Public Enterprises (COPE), 52 state corporations, statutory boards, commissions and government owned companies have made losses to the tune of Rs. 13.4 in the first four months alone in 2021.

As the situation at the SOES is extremely precarious and unsustainable, the government has decided to lunch the restructuring process on all loss making SOES, Minister Gunawardana said.

As the first step of the restructuring programme, a committee of top officials has been appointed by the cabinet on a proposal made by President Ranil Wickremesinghe for the purpose, The monitoring the efficiency as well as the financial discipline of the SOES has to be ensured strictly with a view to meeting the challenging situation existing within the country at present and ensuring the sustainability of the SOES, stressed the minister.

The members of the expert committee are: Dr RHS Samaratunge Former Secretary, Ministry of Finance, MMC Ferdinando - Former Secretary, Ministry of Power, Dr Susantha Perera, former AGM - CEB, Thilan Wijesinghe - former Chairman, Board Of Investment, Saliya Wickramasuriya - Chairman, Petroleum Development Authority & Director General, Port City Economic Commission, President’s Counsel Nihal Jayawardhane - former Legal Consultant to the Public Enterprise Reforms Commission, Attorney at Law Harsha Fernando - former Senior State Counsel at the AGS department and Chandana Wijesinghe - Director, Ministry of Power.

The 8 member committee is required to submit its recommendations and proposals within a month to the Ministry of Power and Energy.

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2022-08-08T07:00:00.0000000Z

2022-08-08T07:00:00.0000000Z

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