Sri Lanka to close 33 inactive State-Owned Enterprises

The Cabinet of Ministers has decided to close down several state-owned enterprises in Sri Lanka that are no longer active or contributing to the national economy.

Many of these enterprises were established years ago to provide public services and support strategic economic activities. However, they have now become inactive due to changing national needs, lack of market relevance, and poor financial performance.

The government has recognized that maintaining such entities whether statutory bodies, state institutions, or government-owned companies creates an unnecessary financial burden without delivering benefits to the public or the economy.

Based on a proposal submitted by the President Anura Kumara Dissanayake in his capacity as Minister of Finance, Planning and Economic Development, the Cabinet has approved the formal liquidation of 33 state-owned enterprises.

The process will be carried out in two phases under the supervision of a special liquidation unit to be established within the Ministry of Finance, Planning and Economic Development.

With this decision, Sri Lanka aims to reduce losses from inactive state entities and ensure better use of public funds.