Burden of public institutions also placed on people: President | Breaking News

President Ranil Wickremesinghe said today that several government institutions had incurred a loss of about Rs.2,116 billion by the end of the second quarter of 2022.

Making a special statement in Parliament today (06), the President said that many radical economic policies should be implemented in order to recover from the economic crisis that the country has fallen into.

The President pointed out that the task of restructuring state enterprises, which have become a burden to the country, has already been initiated.

President Wickremesinghe further said the loss of these institutions was directly and indirectly borne by the public for decades. 

“The loss of government institutions was placed on the people. At the end of the second quarter of 2022, many institutions have suffered heavy losses. Ceylon Petroleum Corporation has suffered a loss of Rs.1,057 billion, Ceylon Electricity Board Rs.261 billion and SriLankan Airlines Rs.799 billion. I think by the end of the year, this will be increased to about Rs. 4,000 billion. This burden can no longer be placed on the people. Therefore, we will restructure these institutions and bring them to a state where they will not be a burden to the country anymore.”

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