IMF proposes privatising loss-making entities

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The International Monetary Fund (IMF) report recommends the privatisation of certain State entities operating at a loss including the Railways Department, Minister of Transport Dilum Amunugama said.

He added, the move to seek assistance from the IMF was not in terms of financial assistance, but instead to obtain proposals to manage the economic crisis.

Amunugama said while the proposals are crucial to overcome the economic crisis, certain sectors could be inconvenienced by implementing these proposals.

“The Government may take a decision on whether or not to implement the IMF proposals, but certain sectors should be prepared to face consequences if the proposals are implemented’’ he added.

President Gotabaya Rajapaksa in his address to the nation recently, said Sri Lanka will work with the IMF to seek assistance to overcome the economic crisis following which a report was released by the IMF. The Cabinet on Monday (March 28) approved presenting the Report to Parliament.

(Source: Ceylon Today – By Faadhila Thassim)