Committee to study draft bill on restructuring state enterprises

Cabinet approval has been given to appoint a four-member committee to review the ‘State Commercial Enterprises Management Draft Bill’ which provides for restructuring government owned enterprises.

The members of committee are Minister of Labour and the Deputy Minister of Economic Development Anil Jayantha Fernando, Minister of Industries and Entrepreneurship Sunil Handunetti, Minister of Trade, Commerce, Food Security and Co – operative Development Wasantha Samarasinghe and Deputy Minister of Finance Plan Implementation  Harshana Sooriyapperuma.

The Cabinet was informed  that state enterprises should be restructured and maintained with proper administration with the assistance of local or foreign investments without being a continuous burden to the General Treasury and the country’s economy.

The note to Cabinet said that it is the policy of the new government to introduce an efficient and accountable mechanism in this regard and the first draft of the ‘State Commercial Enterprises Management Draft Bill”  provides the legal framework required for restructuring these entities.

The Cabinet proposal was made by President Anura Kumara Dissanayake, in his capacity as the Minister of Finance, Plan Implementation and Economic Development.