Sri Lanka, Sept. 4 -- The Cabinet of Ministers has approved a proposal presented by President Anura Kumara Dissanayake, in his capacity as the Minister of Finance, Economic Stabilization, and National Policy, to formally close down 33 non-operational State-Owned Enterprises (SOEs) as part of Phase 2 of the government's state-sector reform program.

The closures will be carried out systematically after the establishment of a Special Liquidation Unit under the Ministry of Finance.

The decision has been taken with the objective of eliminating wastage, improving fiscal discipline, and redirecting resources toward more productive sectors.

This decision aligns with the government's broader strategy to streamline the public sector, reduce stat...