While making a special address in Parliament on the new government’s mid-term economic plans, Prime Minister Ranil Wickremesinghe said that any public enterprise should be maintained through financial discipline and that similarly these enterprises should be successfully developed as commercial businesses.
A State Holding Corporation on the lines of Singapore’s Tamasek, with State ownership would be established and that State enterprises shares would be vested with this corporation while granting the authority to take decisions in keeping with the markets as in private enterprises, added Prime Minister Ranil Wickremesinghe.
Similarly, a trust titled the Public Wealth Trust would be established and through this trust shares of this corporation would be vested with the people and that the Secretary to the Treasury and the Governor of the Central Bank would be appointed as trustees, stated the Prime Minister. The other trustees would be appointed from among representatives of trade unions, civil society and chambers of commerce nominated by the Constitutional Council. The Premier added that these trustees would be responsible for monitoring this trust and that they should be responsible to Parliament.
Top News Singapore style State Holding Corporation will be established in Sri Lanka, says Premier Ranil Wickremesinghe
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