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Navigating SOE reforms in an election year

This article was compiled by Dr. Malathy Knight. Dr. Malathy Knight is an economist and a Research Fellow at Verité Research. Research support for this article was provided by Imaa...

Only 11 out of 52 SOEs have Published Financial Data up to 2022!

Out of the 52 Key State-Owned Enterprises identified by the Ministry of Finance, only 11 have released their financial reports until the year 2022 as of June 30th, 2023. This progress does not align with Sri Lanka’s commitment to the I...

Change in Tariffs on Monthly Electricity Consumption

Electricity tariffs were initially revised in August 2022, which was the first revision since November 2014. However, in February 2023 tariffs were revised again (see table below).

Total SOE Losses in the first four months of 2022 Outweigh Annual Losses in 2021

During the first four months of 2022 the cumulative loss of State-Owned Enterprises (SOEs) amounted to LKR 860 BN. This figure outweighs the annual loss of SOEs in 2021. The top 3 contributors to the increase of the...

25 of 52 Key SOEs identified by Ministry of Finance do not have financial data available online from 2017 onwards

State-owned enterprises (SOEs) continue to play a key role in the Sri Lankan economy, particularly in strategic sectors such as energy, water, banking and insurance, public transportation, ports, and aviation.

Ceylon Petroleum Corporation: What drives the losses?

Ceylon Petroleum Corporation (CPC) is the state-owned enterprise in Sri Lanka with the largest accumulated losses – estimated at LKR 335 billion as of 2020. The insight finds that the CPC sells fuel at prices higher than the cost...

Sri Lankan Airlines: Annual and Accumulated Loss to the Public

The total liabilities of Sri Lankan Airlines have increased over the years and have resulted in the gradual decrease in the net assets value of the company. As per the financial statements published in 2020, the company had a negative net as...

Sri Lanka Transport Board’s (SLTB) is making a loss in 2020 for the first time since 2016

Annual operating profit of SLTB has declined substantially by 250 % in 2020. SLTB has been operating profitably from 2017 onwards. However, an operating loss of LKR 2,3...

What percentage of shareholding does the Sri Lankan Government have in companies listed on the Colombo Stock Exchange?

What percentage of shareholding does the Sri Lankan Government have in companies listed on the Colombo Stock Exchange? According to the Ministry of Finance&...