Govt Prepares New Legal Framework to Improve SOEs

COLOMBO (News 1st); The Ministry of Finance has announced the initiation of a new legislative framework aimed at improving the performance and accountability of state-owned enterprises (SOEs) in Sri Lanka.

According to Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma, the proposed legislation will provide a clear legal structure to ensure SOEs can contribute to the national economy in an efficient and productive manner.

Dr. Suriyapperuma stated that one of the major reasons for the inefficiency and poor quality of services in state enterprises has been the lack of a proper legal framework under previous governments. 

He further emphasized that once the new act is passed, it will enable SOEs to operate profitably, procure goods at fair and transparent prices, purchase goods without shortages, and source products from suppliers across the island.