Sri Lanka, May 1 -- The Finance Ministry emphasized that nearly 400 State-owned Enterprises (SOEs), which lost Rs. 743 billion in 2022, has managed to record a profit of Rs.456 billion in 2023.

Finance State Minister Shehan Semasinghe pointed out that restructuring has been the reason for overcoming inefficiency and increasing productivity.

State Minister Semasinghe said state enterprises which suffered a loss of 743 billion rupees in 2022, made a profit of 456 billion rupees in 2023.

He said further that, especially institutions that operated on subsidies such as the Electricity Board and the Petroleum Corporation set a price commensurate with the cost of their products,

which resulted in earning profits.

However, he pointed out tha...