The Cabinet of Ministers has granted approval to cancel the liquidation of the Cooperative Wholesale Establishment (CWE) and revive its commercial operations.
Speaking at the Cabinet press conference today (March 26), Cabinet Spokesman Minister Dr. Nalinda Jayatissa stated that the previous government had decided to liquidate the CWE under the Co-operative Wholesale Corporation Act No. 47 of 1949. However, the current administration believes that the CWE can play a vital role in ensuring the continuous supply of quality goods and services at reasonable prices while promoting market competitiveness in line with the “Rich Country—Beautiful Life” policy framework.
Accordingly, the Cabinet has approved a proposal by the Minister of Trade, Commerce, Food Security, and Cooperative Development to rescind the previous decision to liquidate the CWE and instead relaunch its operations based on a feasible business plan.
