Business
Restructured SOEs to be converted into limited liability companies – Suresh Shah
By Hiran H.Senewiratne
A new legislature would be in place by the middle of this year to restructure 130 State Owned Enterprises (SOE), which would not accommodate any political appointments to their Boards because they will be converted into limited liability companies, Head, State-Owned Enterprises Restructuring Unit (SOERU), Suresh Shah said.
‘At present, out of 130 SOEs in the country, 17 are non- operational but the Boards of directors are still functioning in them. In respect of 85 entities, state intervention is not necessary. These would need to be sold but with regard to the balance; government intervention is needed, Shah said.
Shah made these observations at a recent seminar titled, “Enhancing Efficiency of State Owned Enterprises”, organized by the Organization of Professional Associations of Sri Lanka (OPA). It was attended by a large number of professionals.
Shah said that enhancing efficiency of state owned enterprises is immensely important considering the country’s current economic situation and added that Sri Lanka Telecom, CPC and CEB should be definitely privatized for the betterment of the people of the country.
Shah added: ‘CPC, Sri Lanka Telecom and CEB get guarantees from the Treasury and raise loans from state banks. When those loans cannot be settled, the state banks’ balance sheets are at stake.
‘Therefore, Sri Lanka Telecom and some major parts of the CEB should be privatized to enhance the services being provided to the people of the country. Even CPC should be privatized for the sake of the people who need a better service.
‘SOE entities will be restructured based on nine principles. All appointments to Boards must be done through the Constitutional Council. Politicians should not get involved in appointments.
‘Approximately 85 institutions were identified as being suitable for divestment. Among the challenges that had been identified by the SOE Restructuring Unit were; subsidies, the appointment of unsuitable directors, overstaffing, and circular debt.
‘Consequently, the Unit had come up with a number of recommendations that included, divestment of loss-making or non-strategic SOEs, bringing all such enterprises under the Finance Ministry, while making them limited liability companies.
‘The importance of not “parking” subsidies with state banks should be emphasized. The government should create a better environment to attract investors to the country. Singapore is a fine example of this.
‘Divestiture guidelines would be crafted by the Unit with experts’ ideas and once divested, these entities would be holding companies and profits would be divided as dividends among the owners of the entity, as in listed companies.’
Secretary to the Treasury and the Ministry of Finance Mahinda Siriwardena highlighted that state owned enterprises have both positive and negative impacts on the economy. ‘The government was also implementing institutional reforms to improve the balance sheets of these enterprises. Another key reform was bringing all SOEs under the control of a holding company, he said.
Siriwardana also noted that strict regulations would be brought regarding the appointment of directors. He said reducing the losses in some SOEs is the priority of the government and strict regulations will be brought in future when appointing directors, chairmen etc.
Business
Birthday gift turned lifeline: US-based young environmentalist steps up for Sri Lanka
For Daham Perera, a December birthday celebration this year became something far more meaningful than cake, candles or gatherings with friends. Instead, it turned into a deeply personal act of solidarity with a country he calls his motherland.
Perera, a young environmental enthusiast based in Los Angeles, says his bond with Sri Lanka remains unbroken despite living thousands of miles away. “Although I live in America, my parents and all my relatives live in beautiful Sri Lanka. That connection is something I carry with me every day, he said.
Having visited Sri Lanka in August, Perera spent weeks traveling across the island, reconnecting with relatives and visiting historical and environmentally significant sites. “I saw the true beauty of Sri Lanka – its people, its biodiversity, and its rich heritage. Those memories are among the most beautiful in my life, he recalled.
That joy, however, was short-lived. Soon after his return, the devastating Ditwah cyclone struck the island, leaving a trail of destruction. Homes were damaged, livelihoods disrupted and families displaced. “When I saw images of my friends losing their homes, books soaked in mud, clothes ruined by floodwaters, I felt a pain I cannot put into words, Perera said.
As an environmentalist, the damage to Sri Lanka’s fragile ecosystems troubled him deeply. “Sri Lanka’s biodiversity is priceless. When disasters like this strike, it is not just people who suffer, but forests, wildlife and entire ecosystems that take years to recover, he noted.
With his birthday falling on December 9, Perera made an unconventional decision. “Normally, my father and I celebrate our birthdays by going to the temple and spending time with friends. But this year, celebrating didn’t feel right when my people were suffering, he explained. “I kept asking myself—what can I do, even from afar?”
The answer was simple but powerful. Perera chose to donate all the money he had saved for his birthday celebrations, along with additional contributions from his family, towards relief efforts in Sri Lanka. “Economic support at times like this is critical. Even a small contribution can help a family rebuild, restart a livelihood, or regain dignity, he said.
The donation was formally handed over to Sri Lanka’s Consul General in Los Angeles, Charith Yattegoda, at the Consulate premises. For Perera, the gesture carried deep emotional significance. “If I can replace my personal happiness with smiles on the faces of people back home, that is the most beautiful birthday I could ever celebrate, he reflected.
He describes the letter of appreciation he received in return as his most treasured gift. “That thank-you letter is not just paper. It is a reminder that loving your country means standing by it in its darkest moments. It will always remain one of the most meaningful keepsakes of my life, Perera said.
Perera hopes his story will inspire other young Sri Lankans living overseas to stay connected and give back. “Distance should never weaken our responsibility. Supporting Sri Lanka—its people, its economy, and its environment—is something we can all do, no matter where we live, he added.
In turning a birthday into an act of compassion, Daham Perera has offered a quiet but powerful reminder: sometimes, the greatest gifts are the ones we give away.
By Ifham Nizam
Business
John Keells Foundation partners Sri Lanka Police in combatting violence against women and children
As part of its ongoing commitment to combat violence against women and children towards empowering a healthy and progressive nation, John Keells Foundation (JKF) continues to empower law enforcement agencies through Project WAVE (Working Against Violence through Education) – its flagship of over ten years – to combat gender-based violence and child abuse.
These activities include a strategic collaboration through which JKF supported the Sri Lanka Police to enhance their response to crimes involving women and children through the sponsorship of a global cutting-edge investigative software for use in the Cyber Investigation Unit (CIU) at the Bureau for the Prevention and Investigation of Abuse of Children and Women (BPIACW). The software enables officers to analyse and connect data efficiently, strengthening their ability to investigate and prevent online exploitation and related offences. BPIACW reported that the new platform had directly contributed to a significant and measurable improvement in their investigative capacity, recording the rescue of 22 children, the arrest of 21 suspects, and the filing of 111 cases in courts within the first year of its deployment.
Speaking on the partnership with JKF, Deputy Inspector General of Police – Ratnapura, and Former DIG – Children & Women Abuse Prevention 8 Investigation Range, Renuka Jayasundara said, “We extend our sincere gratitude to JKF for your steadfast partnership and for serving as a cornerstone of our efforts to strengthen child protection services through Project WAVE. Your contribution is making a tangible and quantifiable difference as evidenced by the growing numbers of successful investigations and legal referrals.”
Beyond technological support, JKF has also conducted a series of Train-the-Trainer (ToT) programmes, to improve the ability of officers to respond to GBV and CP in a sensitive and effective manner. The sixth such ToT was conducted from 24th to 26th of September 2025 for the benefit of nominated officers of the Homagama, Kaduwela and Maharagama police divisions. To date, 162 officers across 60 police stations have been impacted.
Business
SLANZBC appreciative of help from Australia and New Zealand
The Sri Lanka Australia–New Zealand Business Council (SLANZBC) has extended its profound gratitude to both the Australian and New Zealand governments for the generous and timely assistance provided to Sri Lanka during the recent flood devastation.
Chandana Amaradasa, SLANZBC president, noted that both governments donated one million dollars each, in their respective currencies, at a critical moment for Sri Lanka — support that will play a significant role in helping communities rebuild their livelihoods.
The government of New Zealand has pledged NZ$1 million to support humanitarian relief efforts in Sri Lanka following Cyclone Ditwah.
This assistance will be channeled through an international
humanitarian partner to strengthen ongoing rescue and relief operations.
Similarly, the Australian government announced on November 30, 2025 that it will provide AUD 1 million in humanitarian aid to bolster Sri Lanka’s response to Cyclone Ditwah.
These compassionate and timely gestures, Amaradasa said, once again demonstrate the unwavering commitment of both countries to stand beside the Sri Lankan people in times of crisis. He also recalled that
Australia and New Zealand have consistently supported Sri Lanka, stepping forward during previous national emergencies as well.
Today’s humanitarian assistance further reaffirms the depth of these longstanding relationships and the true spirit of friendship that binds the nations — a bond built on mutual respect, shared values and enduring goodwill.
“Our association deeply appreciates this kind and meaningful support and remains committed to fostering even closer ties between the people of Sri Lanka, New Zealand, and Australia, he added.
By Hiran H Senewiratne
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