Some SOEs to be liquidated under restructuring programme

• We have to look at legal and other aspects involved in the process
• Some SOEs have been identified to be redundant at the moment. As such, they will be liquidated
• We cannot liquidate a state institution in the way a private company is done

 By Kelum Bandara   

The government mulls the liquidation of certain institutions under its programme for restructuring state owned enterprises (SOEs), a top source said.  The government has decided to restructure SOEs which are commercially oriented in accordance with the programme of the International Monetary Fund (IMF). In this process , some SOEs have been identified to be redundant at the moment . As such, they will be liquidated . 

Asked for a comment in this regard, State Minister of Finance Shehan Semasinghe confirmed that some state ventures remain redundant at the moment . He said it is a long process to liquidate them .  

“We have to look at legal and other aspects involved in the process . We cannot liquidate a state institution in the way a private company is done ,” he said.