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Advocata calls for urgent reforms to address inefficiencies plaguing SOEs
policy think tank, based in Colombo, the Advocata Institute, launched its latest report, “Getting the State Out of Business: The Compelling Case for Privatisation of State-Owned Businesses,” which featured a high-profile panel discussion, calling for urgent reforms to address the inefficiencies plaguing Sri Lanka’s state-owned enterprises (SOEs), a release said.
It said: The event featured a keynote address by Suresh Shah, Director General of the SOE Restructuring Unit, and insights from prominent industry experts.
The event began with a presentation by Rehana Thowfeek, Research Consultant at Advocata Institute. She emphasised the dire need to redefine SOEs, noting that current state enterprises, such as those in telecom, banking, ports, petroleum, and power, have become a major hindrance to the economy. Thowfeek highlighted the inefficiencies, corruption, and market distortions caused by over 400 SOEs, spread across 33 sectors, employing approximately 250,000 workers.
“Our SOEs are an inefficient, bloated bureaucracy,” Thowfeek stated. “The IMF has identified these entities as high-risk for corruption due to weak management, shoddy oversight, and significant political interference.”
Dhananath Fernando, CEO of Advocata, set the context in Sinhala, emphasising Advocata’s mission and its commitment to advancing economic reforms in Sri Lanka.”One main reason for advocating privatisation is the growing debt problem, with government businesses accumulating 6 trillion rupees in debt by 2023, compared to a tax revenue of 3 trillion rupees and interest payments of 2.5 trillion rupees.”
Suresh Shah, the Director General of the SOE Restructuring Unit, in his keynote address, stressed the need for the government to focus on its fundamental responsibilities rather than engaging in business activities. He outlined three main push backs against the current privatisation process: the profitability argument, the revenue argument, and concerns over national assets and security.
“Sri Lanka has missed out on investing in its true national assets, such as education and the younger generation,” Shah remarked. “The government should prioritise national security, economic development, education, and health. There is no need for the government to be in business.”
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Law will be enforced against all those who acquire assets illegally- State Minister Chathuranga Abeysinghe
State Minister of Industries and Entrepreneurship, Chathuranga Abeysinghe, while addressing a public gathering held at the Raffles Hotel in Kotte on Tuesday [April 22] said that the law will be enforced against all those who acquire assets illegally.
He said that , if someone joins a municipal council receiving a modest salary and, within two to three years, builds a luxury house and acquires a vehicle, we will question how such wealth was amassed. If a satisfactory explanation cannot be provided, the law will be enforced and the measures will be taken to confiscate any illegally acquired assets.
The opposition frequently levels accusations against us, but we have not engaged in any wrongdoing. We have not misappropriated public funds, used undue influence to secure school admissions for our children, or interfered with law enforcement. We are dedicated to serving the people by upholding an ethical and responsible political culture.
If you wish to develop your community, I respectfully urge you to elect individuals of integrity who will not misuse public funds.
[Prime Minister’s Media Division]
It has been reported that prison officials and the police have brought the unrest among the 500 plus inmates of the Matara prison which commenced on Tuesday [22] under control by this morning (23)
It has been reported that the inmates had broken out of their wards after which the officials were compelled to fire in the air and use tear gas to bring the situation under control.
The inmates are being temporarily transferred to the Angunkolapelessa prison in groups to enable authorities to repair the the damage caused to the wards and cells within the premises.
The prison officials who were injured during the conflict are receiving treatment at the Matara hospital. 
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Local government authorities and Municipal Councils are the nursery of corrupt politics. – Prime Minister
The Prime Minister stated that the President has challenged all ministers to transparently and efficiently spend the funds allocated to each ministry through the national budget for the benefit of the people, and that the local governments and municipal councils have historically been the nursery grounds of corrupt politics.
The Prime Minister made these remarks while addressing a public gathering held at the Raffles Hotel in Kotte on Tuesday [April 22].
The Prime Minister further stated:
“All 159 of us in Parliament today did not enter through family or financial influence. We are ordinary citizens just like you and individuals who stand among you. Unlike in the past, our members do not behave disruptively in Parliament. When school children visit, there is no need for the Speaker to request their removal that our parliamentary members conduct themselves with dignity, adherence to the law, and political maturity.
This is the kind of Parliament we have always aspired to have. Today, it is you who has made this transformation possible. For a long time, we have not experienced the advantages of an efficient and properly functioning local government. You now have the opportunity to elect representatives who are truly committed to serving you and improving your local institutions.
The event was attended by Arosh Athapaththu, Sri Jayawardenapura Kotte Municipal Council candidate representing the National People’s Power, along with several other candidates and a large number of local residents.
[Prime Minister’s Media Division]
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