PARLIAMENT

• Provide a record inclusive of all data on how they have conducted business in the last 10 years – SOC instructs the institutions selected for the restructuring process
• Provide a report on the regularity of the unit appointed for the restructuring of state-owned enterprises – SOC instructs the Ministry of Finance

The consideration of the current state enterprise restructuring program and the progress of the restructuring process took place during the Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis. This was considered when the Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis met recently (Apr. 01) under the Chairmanship of Hon. Gamini Waleboda in Parliament. Government officials, including officers attached to the unit appointed for the restructuring of state-owned enterprises, were called before the Committee.

The officials informed the Sectoral Oversight Committee that this unit has been appointed by the Cabinet to implement the State Enterprise Restructuring Program and briefed the Committee on their role. Accordingly, the officials of the unit appointed for the restructuring of government-owned enterprises informed the Committee that currently 07 institutions are taking necessary measures for the restructuring program. Srilankan Airlines Ltd, Sri Lanka Telecom PLC, Sri Lanka Insurance Corporation Ltd, Hotel Developers Ltd, Canwill Holdings (Pvt) Ltd, Litro Gas and Litro Gas Terminals Ltd, Lanka Hospitals Corporation PLC have been included in the restructuring program. Expressing views on the responsibility assigned to the Committee under the restructuring, the officials specifically stated that the ownership of these institutions is to be independent from the government and then tendered to the local and foreign investors in the private sector. I was also stated that Expression of Interest (EOI) has already been invited for several institutions.

The members of the Committee inquired the officials of the unit and the impact of the restructuring of the state-owned enterprises on the social, economic and national security aspects of the country. Accordingly, the Committee Chair instructed the officials of the unit appointed for the restructuring of government-owned enterprises to provide a complete data report of the business activities carried out in the past 10 years in the institutions designated for restructuring. Furthermore, the Committee instructed to prepare and forward a report on the contribution received through the process of restructuring government institutions to alleviate the economic crisis in this country.

Also, the Committee Chair stated that through the process of restructuring these public institutions, the matters related to national security will be referred to the sectoral oversight committee on national security for further discussion. Commenting further, the Chair of the Committee pointed out that it is possible to carry out all the work in a more diversified and efficient manner by discussing these matters at length in the Committee. Providing an example for the said, the Chair of the Committee pointed out that according to a recommendation given to the Credit Information Bureau (CRIB) of the Central Bank of Sri Lanka, a telephone application has been created for the public to easily know whether they are in CRIB or not. The Committee Chair pointed out that the necessary program is being implemented to implement those activities in the near future.

Members of the Committee Hon. (Dr.) Sarath Weerasekera, Hon. (Dr.) Gayashan Nawananda, Hon. W. H. M. Dharmasena, Hon. M. W. D. Sahan Pradeep Withana, Members of Parliament Hon. (Ven.) Athuraliye Rathana Thero, Hon. (Dr.) Harsha de Silva, Hon. Kabir Hashim, Hon. Eran Wickramaratne, Hon. S. Shritharan, Hon. Asanka Navaratne, Hon. Jagath Priyankara and government officials were present at the Committee meeting held.