Sri Lanka Reverses Decision on State Enterprises Sale
The Sri Lankan government has decided not to sell state enterprises such as Sri Lankan Airlines and Sri Lanka Telecom, reversing a decision made by the previous administration. This announcement followed a petition challenging the proposed sales, and aligns with reforms under the IMF's financial bailout package.
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The Sri Lankan government has reversed a previous decision to sell key state enterprises, a change communicated to the Supreme Court. The announcement came as a response to a fundamental rights petition challenging the then-government's Cabinet decision to privatize entities like Sri Lankan Airlines and Sri Lanka Telecom.
This previous decision was part of a set of reforms linked to an International Monetary Fund (IMF) bailout, aimed at reducing losses and fiscal risks tied to state enterprises. Attorney General Parinda Ranasinghe Jr. informed the court that the current administration plans to keep these entities under state control.
President Anura Kumara Dissanayake and IMF representatives also met to discuss the nation’s progress on these bailout-linked reforms, underscoring the administration's commitment to prudent management of state resources while ensuring they do not strain the national budget.
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