Colombo 31 August : The Sri Lankan government has decided to create a State-Owned Enterprise Restructuring Unit to assist with the restructuring of state-owned enterprises the President Ranil Wickremesinghe announced while presenting the Interim Budget 2022 in the parliament.Wickremesinghe said on Tuesday that close to $556,000 has been allotted to implement the unit’s creation proposal.
Certain of the state-owned enterprises have suffered losses for a long time because of structural problems, he said, adding that the Treasury cannot continue on funding these companies and an effective method to make them more effective must be found, Xinhua news agency reported.
The biggest fiscal risks come from the state-owned enterprises of a few that are state-owned, including SriLankan Airlines, Ceylon Electricity Board and Ceylon Petroleum Corporation.Ceylon Petroleum Corporation, said the President.
He also stated that the value-added tax would be increased by 12 to 15% beginning on September 1, and the age of retirement of semi-government and government employees will be reduced from 60 years to 60 years.
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