Sri Lanka can raise US$2-3bn by reducing SOEs: President
ECONOMYNEXT – Sri Lanka plans boost central bank reserves by reducing state owned enterprises President Ranil Wickremesinghe told parliament, in a possible reform to a privatization drive.
“By reducing the burden of SOE we can expand the resrves by getting 2 to 3 billion US dollar,” President Wickrmesinghe told parliament.
“This is the only short term way we can get a few billions of reserves in the short term.”
Sri Lanka has a series of so-called ‘low hanging fruits’ which can be sold down.
These include Sri Lanka Insurance, residual stakes in already listed companies like Sri Lanka Telecom, and state owned hotels. (Colombo/Oct05/2022)