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Tuesday September 27th, 2022

Sri Lanka president cautions against nurturing loss-making SOEs, calls for reform

ECONOMYNEXT – If Sri Lanka continues to nurture loss-making state owned enterprises (SOEs) the country will take a further downturn, President Ranil Wickremesinghe said, noting that policy decisions need to be taken on how to proceed with them.

“Four or five decades ago, there was an economic concept of state enterprise. However, it is now widely accepted that this concept is ineffective. Even former socialist countries now encourage private enterprises,” said Wickremesinghe, addressing parliament on Wednesday August 03.

Wickremesinghe, delivering his inaugural address to the legislature as Sri Lanka’s eighth executive president, said he is committed to making effective changes for the future of Sri Lanka, now going through its worst economic crisis since Independence.

“The foundation is being prepared to rekindle the middle class. Benefits are distributed fairly to the entire society, through a social market economy. I am taking measures to establish a Social Justice Commission for this purpose,” he said. (Colombo/Aug03/2022)

 

Comments (2)

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  1. Dgee says:

    Poor service as seen in posts and huge loss but high salaries.

  2. sacre blieu says:

    With all this, there will be another empty promise and make room for the return of the destructive practices by the few ,to continue to ruin the country. An early election would be the most suitable process to bring sanity back into our rule and drive out the predators. Recover our stolen money and revoke those windfall tax relief and direct into productivity of the SME.

View all comments (2)

Comments (2)

Your email address will not be published.

  1. Dgee says:

    Poor service as seen in posts and huge loss but high salaries.

  2. sacre blieu says:

    With all this, there will be another empty promise and make room for the return of the destructive practices by the few ,to continue to ruin the country. An early election would be the most suitable process to bring sanity back into our rule and drive out the predators. Recover our stolen money and revoke those windfall tax relief and direct into productivity of the SME.