Sri Lankan President Urges Prioritization of Social Welfare Programs over State-Owned Enterprises

In a recent CEO Forum hosted by CA Sri Lanka, Sri Lankan President Wickremesinghe made a statement about the allocation of funds in the country. He emphasized the need for directing resources towards education, health, and social safety for the poor and vulnerable, rather than supporting state-owned enterprises such as the CPC (Ceylon Petroleum Corporation), Sri Lankan Airlines, or CEB (Ceylon Electricity Board).

The President expressed concern that these enterprises have already consumed a significant amount of the country’s resources, resulting in a waste of valuable funds. Wickremesinghe’s remarks suggest that the Sri Lankan government is looking to prioritize social welfare programs and reduce funding for state-owned enterprises in the country.