State owned enterprises should no longer be a burden to country - Sajith

• Insights should be derived from TEMASEK model in Singapore
• Says SOE reforms are integral to transformative economic policies that he hopes to implement.

By Kamanthi Wickramasinghe  

Samagi Jana Balawegaya (SJB) presidential candidate Sajith Premadasa said that state-owned enterprises (SOE) can no more be a burden to the country, economy, taxpayers and the people.  

Speaking at the event to mark the launch of his Blueprint 3.0 - Towards an advanced social market economy at a gala event on Wednesday, Mr. Premadasa said SOE reforms are integral to transformative economic policies that he hopes to implement.  

 We believe that SOEs have to be looked at individually. Those who are presently making profits need to ensure that there are methodologies to enhance the profits. Those who are loss-making, we would look at models that exist in Singapore, for example the TEMASEK model whereby SOE reforms will be specific, targeted and ensure that they don’t become a burden on the country,” he said.  

He said certain SOEs perform important functions that are directly correlated to national security issues.  

“So we will look at those aspects as well. We would like to ensure that services that are rendered and delivered by the SOEs should be of high quality and standards. That can only be achieved by bringing in new actors, new private partners into the competitive process. This competitive process will ensure that there is a delivery of high quality and high standard services to the customers and the consumer. That’s an issue we will address in a forthright manner. These are issues that can be avoided. It cannot be shelved. We have to be transparent and open about these issues and our primary goal is to ensure that SOEs are not a burden to the country and the economy and that SOEs provide an efficient service to the people of Sri Lanka,” he said.