Govt. looking at privatising non-strategic investments to cut debt

Finance Minister Ravi Karunanayake this morning told an investment forum in Singapore that the government would be looking at privatizing some of the non-strategic investments to cut public-debt. He also said that the government would be listing another set of non-strategic state-owned bodies in the Colombo Stock Exchange in the next three months. He pointed out that three-state owned entities—SriLankan Airlines, Ceylon Petroleum Corporation and the Ceylon Electricity Board— account for 75 to 80 percent of the public debt. Karunanayke said Sri Lanka is aiming at 6 to 9 percent economic growth in the next five years and cutting the country’s growing budget deficit to 3.5 percent of the GDP. Sri Lanka’s budget deficit is estimated to have hit7.2 percent in 2015 and plans to keep it under 6 percent this year. The Central Bank Governor who also spoke at the event expressed confidence Sri Lanka growing at a rate of 6.5 percent in 2016 with Chinese investments continuing. The country is estimated to have grown at 5.7 percent in the last year. (Indika Sakalasooriya in Singapore) - See more at: http://www.dailymirror.lk/106881/Govt-looking-at-privatising-non-strategic-investments-to-cut-debt#sthash.SZVYrNw0.dpuf

Good move, many of them have massive accumulated losses, and cause real burden to the economy and tax payers. Previously it was not considered as they relied on cheap but popular slogans like " Not selling public assets" are they really assets or liabilities ?

වන්ශේ කබල් ගගා හිටියා දැන් ඇති .

Really good move. We should give credit for whatever good things by anyone. Only problem is implementation. Can it be done?

Sri Lankan Airlines can be sold to Emirates
Petroleum to LIOC
Electricity to a foreign party

Why should we pay our hard earned tax money to those lazy workers who make losses?

Please no politics once again.

Emirates never buys again sri Lankan. what about privatize 100% our railway department. we can pay high price if they give on-time service.
petroleum must keep under government. Energy sector is the most sensitive and important for a country.

Future123 wrote:Really good move. We should give credit for whatever good things by anyone. Only problem is implementation. Can it be done?

Sri Lankan Airlines can be sold to Emirates
Petroleum to LIOC
Electricity to a foreign party

Why should we pay our hard earned tax money to those lazy workers who make losses?

Please no politics once again.

Really good move. Should have done long ago. I would still prefer SLT type privatisation