Sri Lanka to restructure loss-making state enterprises

Mar 27, Colombo: State Assets and Enterprise Development Minister of Sri Lanka Dayasritha Tissera says that the government will restructure five state enterprises that are constantly loss-making.

These enterprises are Embilipitiya Paper Mill, Lanka Porcelain Corporation, Kanthale Sugar Factory, Mawanella Rubber Research Institute, and BCC. They have been selected to be restructured in the first stage.

The enterprises are to be privatized but keeping a 51% majority share in the ownership of state.

The private sector will be asked to submit proposals and the most productive proposals will be considered for the restructuring, the government sources say.

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