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Loss making state owned companies to be listed in CSE
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Colombo, January 28 (Daily Mirror) - A study is being conducted on how to list loss-making State Owned Enterprises (SOEs) in the Colombo Stock Exchange (CSE) via a holding company, President Anura Kumara Dissanayake revealed today.
Comments - 44
Comments - Loss making state owned companies to be listed in CSE
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Priyan66 Tuesday, 28 January 2025 10:15 PM
Very good move. Tax payers cannot maintain these SOEs
3 64
P C Ranawaka Tuesday, 28 January 2025 10:28 PM
Get rid of biggest loss maker the usually lousy airline.
10 45
Peter Perera Wednesday, 29 January 2025 12:41 AM
Sorry. President publicly stated that he is going to keep the airline at any cost to promote tourism. He thinks the airline is not going to be a burden to the taxpayers after thinking twice !!
0 12
Nilupul Wednesday, 29 January 2025 07:37 AM
You make perfect sense but for a country betting on Tourism and foreign employment as two pillars to build economic stability, a national airline is essential. Other carriers are only here for their own business needs and can pitch their fares, origins and destinations or simply pull out as they like without a national carrier`s competition. Sadly, we are lugged with a ruined airline that is now unreliable. The country has to find a way besides getting rid of the airline forever.
3 5
Yohan Wednesday, 29 January 2025 11:23 AM
You seems to have never travelled overseas to come to that baseless conclusion. You dont need a loss making and high ticket price airline when same is available with other airlines. Also airline travelling to each and every country is not needed as so many connecting flight options available.
2 4
R.S Dissanayaka Tuesday, 28 January 2025 10:28 PM
Timely decision.should be monitored well.
3 46
P K Eran Tuesday, 28 January 2025 10:30 PM
Start with the mega cash burner SL airline, what a waste of tax payer money.
0 4
Neo Wednesday, 29 January 2025 12:06 PM
Are you going to bring in tourists?
5 1
Ram P Tuesday, 28 January 2025 10:35 PM
Investors will be slow to invest in the Loss making State owned Entetprises
1 6
Yohan Tuesday, 28 January 2025 10:35 PM
He is going in circles when former government directly said this has to be get rid of as per imf guideline. If these cannot be get rid of, close them down immiditly. Then offer compensation for those who worked and that public sector burden will also comes to end. This guy is desperately looking for imf next installment. Lol
2 10
Dr. Dee esquire Tuesday, 28 January 2025 10:36 PM
And who exactly would want to invest on a loss making ‘whatever’ in the CSE?
0 14
Dr Tissa Fernando Tuesday, 28 January 2025 10:57 PM
Work of his capitalist advisors who want to buy it on the stock market dirt cheap slowly. Good strategy but AKD party seems to be unaware if it or knowingly allow it. This is another of privatisation which NPP said they wouldn't do. Another lie of course.
1 12
Forensic Specialist Sydney Tuesday, 28 January 2025 11:28 PM
Please make sure deals, All those entities have lot of land based and those values are millions regardless of business , Governent should keep the real estate otherwise buyers will sell those land and disappear , or profited .All government privatisation government officers and ministers (monsters) got millions and don’t knw the real value,Puttalm cement factory is an example , Imagine railway department land .
0 3
Peter Perera Tuesday, 28 January 2025 11:32 PM
Could you name one that is making a profit?
0 8
Pusa Tuesday, 28 January 2025 11:40 PM
Lets see if the Little Ugly Man carries out his plan !
0 6
A nizam Wednesday, 29 January 2025 01:12 AM
Lmao.. so who’s gonna buy the shares??? Investors will buy the shares only a huge discount and once these enterprises have a solid business plan they high includes staff reductions and a road map to profits. So what’s the difference between privatization and this?? Who is fooling who? Only idiots belive this type of nonsense.
0 8
Nalin Gooneratne Wednesday, 29 January 2025 01:17 AM
What about Institutions wasting government funds and showing profit.
0 5
BnW Wednesday, 29 January 2025 01:35 AM
Can someone explain who will invest in loss making entities? After all these are SoEs.
0 9
Aj Sydney Wednesday, 29 January 2025 10:52 AM
All mismanagement , over staff and lack of leadership and motivation and heavily unionised .
0 2
Ganesh Wednesday, 29 January 2025 01:41 AM
This guys talks as if investors want to buy shares in companies that are loss making. People buy shares in companies to earn money not to lose their clothes. What bunch of morons. Typical communist mindset.
0 9
Traveller Wednesday, 29 January 2025 01:44 AM
Mr President, does this mean that Air Sri Lanka too is to face the same treatment? Otherwise, I suggest that you have a close look at the fee structure of this airline against other carriers such as Singapore Airlines for the same flight paths/ destinations. This will give you an idea how our airline can compete and fail in the prevailing market conditions.
1 3
Neville Jayakody Wednesday, 29 January 2025 02:11 AM
Parliament is one of them, why don’t you privatise that first and then Sri Lankan Airline to be followed!
0 5
FredSnR Wednesday, 29 January 2025 02:51 AM
That is interesting, make the process as transparent as possible
2 1
PXX Wednesday, 29 January 2025 03:44 AM
At the end of the Colombo Stock Exchange too, who will buy stocks from loss-making corporations?
0 10
Ranga Wednesday, 29 January 2025 04:34 AM
Excellent Finally
5 1
Joyce Wednesday, 29 January 2025 05:21 AM
Who are the idiots who is going to put their money into loss making companies specially owned by the state?
0 11
lion Wednesday, 29 January 2025 05:56 AM
Very good move president,You have no businessmen or government official to protect your sole intention is to develop the country ruined by corrupt politicians and in doing that task the people of this country are firmly behind you.
10 1
Priyanee Wijesekera Wednesday, 29 January 2025 05:59 AM
Great revelation but is this another form of privatisation which they earlier condemned?
0 6
Gunapala Wednesday, 29 January 2025 07:14 AM
Listed in CSE means effectively govt is selling SOCs to private sector. This is not what was promised during the election and NPP opposed previous govt doing the same thing. What a hypocrite?
0 9
Premalal Perera Wednesday, 29 January 2025 07:55 AM
All SOEs must be divested other than those affecting national security. Government should govern and let those who are competent handle business. Never forget that the government takes 30% of all profit in the form of taxation without raising a sweat.
0 3
gonna round the buss Wednesday, 29 January 2025 08:14 AM
Who is gonna hold those? Privatizing 'peoplization'.
0 1
Terrence K Wednesday, 29 January 2025 08:47 AM
Who has given you this dead rope to include the loss making state owned enterprises in the Colombo stock exchange because the people who buy and sell shares on the stock market will never touch these companies most of the buyers will definitely look at the net worth of the companies. Only the ignorant buyer will buy these shares. Don't you realize this is some type of manipulation robbing because in the past shares that were not moving some of those company directors influenced others to buy these shares showing a false demand for these shares and when the share price rose these very culprits sold making profits and the poor buyers were left with their shares which fell drastically in the price (valueless)we never expected a President to be a part of this tickery. The best option should have been to find investors who could come to some agreement to give these SOE's some stimulus and once these companies were on a firm footing applied to be included in the Stock Exchange!!!!
0 5
Another great initiative by the NPP government! Wednesday, 29 January 2025 08:49 AM
When previous governments attempted to privatise loss making state institutions, these JVP/NPP guys vehemently protested that state institutions are being privatised. But now they are following the footsteps of previous regimes. The JVP dragged this country backwards for more than 100 years through their disruptive actions.
1 15
martin Wednesday, 29 January 2025 11:29 AM
How many things you are trying to do at the same time? if you are going to catch thieves, focus on that.
0 2
martin Wednesday, 29 January 2025 11:30 AM
who is going to buy these money pits?
0 4
Deniella Bartholomeus Wednesday, 29 January 2025 11:41 AM
A Professional Economic Perspective on SOE Reforms The concerns raised regarding Sri Lanka’s state-owned enterprises (SOEs) and their financial mismanagement are indeed valid. However, a nuanced, economically sound perspective is necessary to understand both the root causes and potential solutions to this issue. 1. The SOE Burden: A Persistent Problem Sri Lanka’s SOEs have been a significant economic liability, accumulating unsustainable losses over decades. According to available data, just 52 key SOEs reported cumulative losses of LKR 744.6 billion, placing an immense burden on taxpayers (Advocata Institute, 2024). Given this, the argument against retaining loss-making entities without structural reform is justified. The inefficiency, overemployment, and political interference in SOEs have long drained national resources, making economic recovery even more challenging.[1-5] Deniella ..
0 3
Dulanjoli Premadosa Wednesday, 29 January 2025 11:43 AM
Hulangona is a previous regime lackey.
1 2
Deniella Bartholomeus Wednesday, 29 January 2025 11:48 AM
[2-5]The Flaws in Government’s Approach Recent government decisions, such as adding 30,000 more employees to an already bloated public sector, further exacerbate the issue (Lanka News Web, 2024). Such measures appear to be politically motivated rather than economically justified. The reluctance to undertake deep structural reforms suggests an effort to maintain voter loyalty rather than improve economic efficiency. This pattern, seen across successive governments, continues to hinder genuine economic progress. Deniella
0 4
Deniella Bartholomeus Wednesday, 29 January 2025 11:50 AM
[3-5]The Colombo Stock Market Plan: A Risky Proposition? The proposal to incorporate 500 loss-making SOEs into the Colombo Stock Exchange (CSE) raises several critical concerns. Firstly, investor confidence in CSE remains fragile, and the inclusion of fundamentally weak entities could deter investment rather than attract it. Secondly, without transparency and proper regulatory oversight, there is a legitimate risk of these SOEs becoming channels for money laundering and illicit financial flows (Advocata Institute, 2024). The lack of clarity regarding the remaining 450 SOEs adds to the skepticism surrounding the plan. Deniella
0 3
Deniella Bartholomeus Wednesday, 29 January 2025 11:52 AM
[4-5] Way Forward: Structural Reform Over Superficial Measures Rather than superficially shifting SOEs to the stock market, the government must focus on: • Improving Governance – SOEs must be depoliticized, with independent boards ensuring professional management. • Transparency
0 2
Deniella Bartholomeus Wednesday, 29 January 2025 11:54 AM
[5-5]Conclusion While the frustration expressed in the article is justified, solutions must be approached pragmatically. The mere transfer of failing SOEs to the stock market without deep structural reform will not solve the crisis. Instead, a combination of privatization, transparency, and good governance is essential to ensure that Sri Lanka does not continue to repeat its economic mistakes. Deniella
0 2
Liberal One Wednesday, 29 January 2025 12:09 PM
Theoretically correct decision. But who is going to buy equity of a loss making institution?
3 0
Deniella Bartholomeus Wednesday, 29 January 2025 01:40 PM
The idea that socialism works in theory but fails in practice is a long-debated one. Even socialist-leaning thinkers have struggled with its real-world implementation. From the Soviet Union to Venezuela, history raises concerns about whether socialism can deliver what it promises.” Deniella
0 3
Dhammika Thursday, 30 January 2025 07:44 AM
Honarabal Ranil Wickramasinghe. Good move.
0 0
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