State enterprises running at loss will be restructured: Semasinghe

• Says steps taken by the government to achieve economic stability would be painful but short lived 

By Dayaratne Embogama   

Stat Minister of Finance Shehan Semasinghe stressed that all state enterprises running at a loss would be restructured so as not to let them be a burden to the people under the government’s economic plans.   

He told the media in Anuradhapura on Sunday (29) that the IMF approval for the expected loan would be received by the end of the first quarter of the year and that the government was fulfilling all requirements. He pointed out that China and Japan had showed a positive response in this regard and pledged solidarity to Sri Lanka.   
“However it is sad that rivals have resorted to misconceptions to prevent the economic stability that could be achieved soon. Government’s economic reforms are intended to uplift the living standard of the people. Steps taken by the government to achieve economic stability would be painful but short lived. With this in view, the state enterprises running at a loss would be restructured and turned into profit making ventures. The government is planning to increase the state revenue,” he said. `   

Commenting on the local government election, he said the Elections Commission was responsible for holding the election and that the government could not postpone it.