King Jayaweera Parakramabahu ruled only for a short period. There are two schools of thought about the last days of this king. One is expressed by the historian Kuto. He has described the king by the name – "Maha Prakura Obago." According to this historian's theory, in the 1 ½ years of rule of this king, Prince Ambulugala passed away. He was the brother of the previous king, Parakramabahu VI.

The 1956 Bandaranaike government adopted a Nationalisation Policy and most of the public utility systems and essential industries were nationalised bringing them under government control. The State Industrial Corporation Act No.49 of 1957 was enacted, under which several Public Corporations were established. Among them was the National Salt Corporation which was set up on December 3, 1957. The Corporation which functioned under the Ministry of Industries thereafter took over the salt industry in Sri Lanka.