The International Monetary Fund (IMF) has emphasized the need for prudent management of Sri Lanka’s State-Owned Enterprises (SOEs) to prevent losses or debts that would ultimately burden taxpayers.
Responding to a question by News 1st’s Zulfick Farzan, an IMF spokesperson stated that Sri Lankan authorities have reaffirmed their commitment to ensuring SOEs do not become a fiscal burden.
The spokesperson highlighted that SOEs must operate efficiently and free of corruption to provide consumers with the best value for the prices they pay. Additionally, commitments under the Extended Fund Facility (EFF) include enhancing transparency by publishing audited financial statements of the 52 largest SOEs in a timely manner.
CBSL Governor Pushes for Capital Market Expansion
Meanwhile, Sri Lanka’s Central Bank Governor, Dr. P. Nandalal Weerasinghe, advocated for capital market expansion to accelerate economic growth. Speaking at the Invest Sri Lanka Capital Market Forum 2025, he stressed the importance of utilizing capital markets to support SOEs and large corporations.
Dr. Weerasinghe emphasized that listing SOEs on the stock market would enhance governance, create investment opportunities, and allow public ownership while maintaining state control. “This approach fosters market development and strengthens financial discipline,” he stated.
With both the IMF and CBSL advocating for structural reforms, Sri Lanka is urged to enhance SOE efficiency and transparency while leveraging capital markets for sustainable economic growth.
