Cabinet approval has been granted to restructure Sri Lanka’s largest state-owned retail chain, Lanka Sathosa.
The decision was announced by Cabinet Spokesman Minister Bandula Gunawardena during the weekly Cabinet press briefing held today.
Minister Gunawardena stated that the decision has been taken as Lanka Sathosa has not provided a productive contribution to the economy.
Thereby, a proposal submitted by Minister for Trade, Commerce and Food Security Nalin Fernando to appoint a Steering and Monitoring Committee to carry out activities related to the restructuring of Sathosa has received Cabinet approval. (NewsWire)