Sri Lanka, March 26 -- The Cabinet of Ministers has approved a proposal to reactivate the Co-operative Wholesale Corporation, reversing a previous decision to liquidate it. The earlier decision, made on September 2, 2024, had called for the liquidation of the corporation under the Co-operative Wholesale Corporation Act No. 47 of 1949.

The revised decision follows recognition of the corporation's potential role in ensuring a stable supply of quality goods and services at reasonable prices. This move aligns with the "Rich country-beautiful life" policy framework, aiming to enhance market competitiveness. The proposal was presented by the Minister of Trade, Commercial, Food Security, and Cooperative Development, and the corporation will res...