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Budget to contain proposals for privatization of public enterprises

8 November 2022 08:19 am - 16     - {{hitsCtrl.values.hits}}

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The government is to introduce key proposals for reforming the State Owned Enterprises (SOEs) in the budget for 2023, Daily Mirror learns.

President Ranil Wickremesinghe will present the 2023 budget to Parliament on November 14 for debate.

It is a budget primarily aimed at implementation of economic reforms in conformity with the programme with the International Monetary Fund (IMF).

Daily Mirror learns that the government has identified around 40 state enterprises to be reformed for development with the participation of the private sector. Among, around ten have been identified to be done immediately.

Among them are SriLankan Airlines and distribution of petroleum products. The government will seek to alienate shares held by it in some hotels.


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  Comments - 16

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  • SC system change fir a better sri lanka Tuesday, 08 November 2022 09:02 AM

    President RW must share a national plan rather than making all of these efforts look like dictates from the IMF. At keast bia the state ministers of Finance share a long medium and short term plan. better communication builds better trust and in turn more hope and a appetite for investment and risk taking which we need to build entreprenieul manufacturing and service sector growth.

    ANTON Tuesday, 08 November 2022 09:04 AM

    YEP ......... FIRST DO THAT FOR THE PARLIAMENT.

    Jude Tuesday, 08 November 2022 09:27 AM

    Ground SRILANKAN AIRLINES government will save like HALF a billion rupees per year!! Yeah!!

    Jude Tuesday, 08 November 2022 09:30 AM

    Government should get rid of HALF of SOE's then will save at least ONE THRILLION Rupees!! That's right!!

    Jef Tuesday, 08 November 2022 09:50 AM

    Excellent its about time if we don't do things that required proper macanisam procedures to maintain profitability then might as we'll privertise with a profit share mooving forward a lost business need turn around if not do things accordingly to minimize any further losses people need to change government need to change procedures reforms badly needed for a speedy recovery

    Iwazaru Tuesday, 08 November 2022 09:54 AM

    Start by liquidating the loss making Sri Lankan Airline.

    Kikazaru Tuesday, 08 November 2022 09:58 AM

    Please leave space to build a small clay and polathu hut for the masses.

    Terrence K Tuesday, 08 November 2022 10:13 AM

    State Owned Enterprises have been a burden on the public purse as these enterprises are making tremendous losses due to high overhead costs with no proper management of the resources available. Employers too show scant respect of the Marginal Productivity theory where workers should be hired until the contribution that the last marginal worker makes to the total value of the product is equal to the extra cost incurred by hiring of one more worker. A prudent move as all lackeys of politicians have created this chaos.

    No more tax man Tuesday, 08 November 2022 10:43 AM

    Very good move. Privatize or PPP of SOEs eating public money. People cannot pay anymore taxes to maintain inefficient

    Peacemaker Tuesday, 08 November 2022 12:23 PM

    There should be no SOEs, government should only regulate, not own businesses

    sam Tuesday, 08 November 2022 12:32 PM

    How about privatising the govt?

    Shirani F Tuesday, 08 November 2022 03:00 PM

    If it boosts productivity, efficiency, profits (or minimize losses), innovations while not putting much burden on people and not removing honest and hard workers. Also it shoud minimize corruption, not demanding comis(%) at the begining or afterwards.

    GHT Tuesday, 08 November 2022 11:54 PM

    The US tried to bring Sri Lanka into this very critical situation for which our UNPATRIOTIC citizens help them to destroy

    Quolp Tuesday, 08 November 2022 11:55 PM

    Ranil Wickremasinghe is a CURSE for our mother Lanka.

    Sunil Wednesday, 09 November 2022 04:08 AM

    Sigiri galath vikuna kalugal walata, samanala kande badu demu hotalayakata. Let us sell Sigiriya for its rubble and lease Adam's Peak to a hotel. This is the solution that ranil has to offer to take us out of this economic quagmire.

    “ The Lansi Burgher Gent “ Wednesday, 09 November 2022 08:33 AM

    Well done, Mr. President. Looks promising and looking at this from the half glass full end. Get rid of all these damned SOEs and if need be, bring in from abroad to bridge the gaps in service. They have all been sitting thumb in bum, for far too long now. Privatise, privatise, privatise .. the whole lot. Damn curse.


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