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Sri Lanka's loss-making SOEs darken future prospects, worsens debt: think tank | Economynext

Sri Lanka's loss-making SOEs darken future prospects, worsens debt: think tank | Economynext: Sri Lanka's loss-making state enterprises (SOEs) are a drag on the country and its prospects, eating up resources and adding to the national liabilities needing urgent fixes, a think tank has said.

Pathfinder Foundation, a Colombo based think tank said there were around 300 SOEs operating under different legal structures which are a 'drag on the economic prospects of the country.'

"The rates of return are low and some SOEs incur losses/arrears which have a negative impact on the state banks’ balance sheets and contribute to the build-up of contingent liabilities of the government which undermines its financial stability," Pathfinder said in its report in a report Charting the Way Forward: Prosperity for All.

"SOEs also constrain the development prospects of the country by providing a low return on the considerable financial and human resources absorbed by them.
Sri Lanka's loss-making SOEs darken future prospects, worsens debt: think tank | EconomynextSocialTwist Tell-a-Friend

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