President Anura Kumara Dissanayake announced the government’s readiness to embrace structural changes to strengthen the country’s economy. Speaking at the Colombo Economic Summit on Tuesday (28), he highlighted the administration’s focus on improving the efficiency of state-owned enterprises and implementing key legislative reforms.
The President revealed that a comprehensive study is underway to explore the possibility of listing loss-making government enterprises on the Stock Exchange through a holdings company. This move is seen as part of a broader strategy to revitalize underperforming sectors while attracting private investment.
In addition, President Dissanayake addressed the government’s plans regarding the Economic Transformation Act. The legislation, originally titled the “Economic Transformation Bill,” was presented to Parliament on May 22, 2024, by the previous administration. It aimed to establish a framework for implementing a National Policy on Economic Transformation. The Bill was subsequently passed with amendments and without a vote.
When asked about the current government’s stance on the Act, President Dissanayake acknowledged its potential but emphasized the need for further modifications. “A new structure has been proposed to a certain extent. However, we believe it requires some amendments. We intend to implement it with these changes,” he stated.
The government’s plans to amend and enact the Economic Transformation Act signal a commitment to fostering sustainable economic growth and creating a policy environment conducive to transformation. The proposed changes are expected to ensure that the Act aligns more closely with the administration’s broader economic goals.
The President’s remarks underscore the government’s proactive approach to addressing economic challenges and pursuing long-term reforms aimed at enhancing national competitiveness and resilience.
