News
Cabinet nod for placing SOEs under holding company to fast-track restructuring
By Rathindra Kuruwita
The Cabinet had approved a proposal to establish a holding company which will include all State Owned Enterprises (SOEs) that are to be restructured, Cabinet Spokesman, Minister Bandula Gunawardane said yesterday, addressing the post-Cabinet press briefing.
The proposal was presented by President Ranil Wickremesinghe, he said.
This holding company will be fully owned by the Treasury and will fast-track restructuring of SOEs, Minister Gunawardane said.
“We know that most SOEs are making huge losses and the burden of maintaining these ultimately falls on the taxpayer. This can’t go on. Whether we like it or not the state can’t continue to run these businesses,” he said.
Minister Gunawardane said that in 2022, President Wickremesinghe established a State-Owned Enterprise Restructuring Unit (SOERU) to restructure SOEs and allocated 200 million rupees to implement the proposal.
The SOERU has studied 60 key SOEs and has come up with a number of recommendations, the Cabinet Spokesman said.
“The new holding company will be established to carry out restructuring rapidly and efficiently.
News
Establishment of an Institutional Framework to Inagurate Upper Hydro Catchment Areas Management Authority
Policy approval of the Cabinet of Ministers was granted at their meeting held on 08.06.2026 to establish the Upper Hydro Catchment Areas Management Authority for identification and
execution of a formal and long – lasting remedy to secure the central hills including the upper hydro catchment areas enabling them to sustain amidst extreme weather conditions
due to natural calamities and human activities as well as to be used for the sustainable development of the country.
Accordingly, a concept paper has been prepared including
institutional structure, activities, powers, active subject area as well as administrative and coordination mechanism for the proposed authority by an expert technical committee appointed by the Secretary to the President.
Based on the said concept paper, the Cabinet of Ministers granted approval to the resolution furnished by the President to instruct the Legal Draftsman to prepare a draft bill including legal provisions required for the establishment of Upper Hydro Catchment Areas Management Authority.
News
Introduction of Flora and Fauna (Regulation of actions of the Indigenous Community within the nominated areas) Regulations
With the objective of securing the traditional livelihood and the eco system of the indigenous community, it has been recognized the necessity of introducing a formal regulation methodology to secure their engagement in livelihood activities by being more sensitive to the existing laws.
Thereby, the Fauna and Flora (regularizing) regulations under the Fauna and Flora Protection Ordinance (Authority 469) have been prepared so that nominated activities within the prescribed area to a member of the indigenous community
who has been registered for securing the rights acquired from law or custom or usage or traditional stance to execute an act within a certain state land that is fundamental to the survival of the indigenous community permission can be granted
Accordingly, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Environment to publish the said regulations in the government gazette notification and thereby submit to the Parliament for its concurrence.
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