REHABILITATION OF PUBLIC ENTERPRISES ACT, NO 29 OF 1996
Posted on August 15th, 2023
BY EDWARD THEOPHILUS
Restructuring of domestic debt has become a vital focus of news in Sri Lanka and many ordinary people are lack of understanding the process, which is expressing jargon and ordinary people have an idea that they are not concerned about the process. The act of rehabilitation of public enterprises, which was certified on 12th November 1996, gave sophisticated instructions for restructuring of public enterprises. Disregarding of instruction of the act, the governments elected continuing the management of public enterprises which has become a dogma at current Sri Lanka.
All governments elected after 1990 should take the responsibility for accountability and JVP also should share the responsibility as the irresponsible actions of JVP contributed to an increase in debt in public enterprises and appointing weak personnel for management of such enterprises.
Public enterprises should manage like private enterprises to give reasonable returns to owner government and showing the accountability to public.
Members of the parliament must read the act again and work to re-invent the rehabilitation process.