The Cabinet of Ministers has actually green-lighted the proposal to establish a moms and dad business, connected with the Treasury, in a quote to accelerate the program to reorganize state-owned business (SOEs).
The proposition was presented by President Ranil Wickremesinghe, in his capacity as the Minister of Finance, Economic Stabilization - & National Policies.The Treasury Secretary will own all shares of this company, according to a news release issued by the Government Information Department.Meanwhile, the SOEs that are being restructured will be registered under this business.
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