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Fresh laws for Reforming State institutes

9 October 2017 05:28 am - 12     - {{hitsCtrl.values.hits}}

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The Government was in the process of evolving fresh legislation to provide for reforming and restructuring the State institutions, a State Minister said yesterday.

State Minister of Finance Eran Wickramaratne told the Daily Mirror that the Government studied models for it available in the countries such as Malaysia and Singapore.

He said the Government was in the preliminary stage of drafting the new legislation titled ‘Public Enterprise Bill’.

“It is not a matter linked with the upcoming budget. Some institutions will be considered for restructuring and the others for Public Private Partnership. The preliminary draft of the Bill is not yet complete. Once it is done, we will put it for discussion,” he said.

Asked whether the State banks would be reformed, he said:

“The State banks are not a burden on the Treasury at the moment. They are, more or less, stand alone institutions.”

There are around 250 public commercial enterprises in the country.

The State Minister said the State banks only faced the challenging of meeting the demand for capital.

“We have to augment their capital,” he said. (Kelum Bandara)

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  Comments - 12

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  • ceylon Monday, 09 October 2017 07:57 AM

    state is not business government.state is wellfare government.collect tax and rule.business is peoples natter.privertise.thats the reform. via DM Android App

    Andrew Pitugala Monday, 09 October 2017 08:04 AM

    There should be something more powerful than the existing laws an fresh laws enacted to ENSURE that they are observed to the letter.

    ANTON Monday, 09 October 2017 08:09 AM

    BALU NAGUTA KELIN KORANDA BAA SAARRR .......

    Jagath Leanage Monday, 09 October 2017 08:17 AM

    "Reforming" is the modern word of privatizing ?

    DJ Monday, 09 October 2017 08:18 AM

    Looks like we elected a bunch of jokers to rule the country. 2 1/2 years into office and only realize this now. No end to incompetence. First appoint qualified personnel without influence to run the institutions then you will see the difference. Eg. SriLankan Airlines CEO whose only qualification is his relationship to the PM and now see where he has taken the National Carrier which is downhill

    Nihal Monday, 09 October 2017 02:37 PM

    If you don't know about it please educate first CEO is an Airline Pilot (Captain ) . Who ordered A350 08 Air Crafts just for their commissions thats all done by previous regime, not now

    Land of who's Monday, 09 October 2017 10:21 AM

    U r running out of time.... Yahapalana strategies limited only for survival. Kingsmen still hitting bada-pinum in all state and some private sectors....

    Manik Monday, 09 October 2017 10:55 AM

    Ayyo, enough. Handover power to somebody else in the interest of the nation

    Sharon Monday, 09 October 2017 11:37 AM

    Sell all state owned properties, collect commissions, hold elections and go home.... Good strategy

    Sunil Monday, 09 October 2017 12:53 PM

    Laws, commissions, meetings but nothing productive. As the others have said, go home soon.

    Sunil Monday, 09 October 2017 12:53 PM

    Laws, commissions, meetings but nothing productive. As the others have said, go home soon.

    Sunil Monday, 09 October 2017 12:54 PM

    Laws, commissions, meetings but nothing productive. As the others have said, go home soon.


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