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.

(Kelum Bandara)