The Cabinet has granted approval for the formal closure of 33 state-owned enterprises (SOEs) that are currently non-operational, as part of the government’s restructuring programme.
The selected SOEs, including statutory bodies, state corporations, and government-owned companies, will be shut down in two phases under the supervision of a newly established Special Closure Unit within the Ministry of Finance.
According to the government, these entities were originally created to provide public services and promote strategic economic activities, but many no longer align with national priorities or market demands. Due to prolonged inactivity, poor financial performance, and impracticality in continuing operations, they have been deemed a burden on state finances.
Cabinet Spokesman Minister Nalinda Jayatissa told the post-Cabinet media briefing that the closures will not result in job losses, as the institutions are entirely inactive, with some existing only in name. He said the decision was made following consultations with the relevant entities.
