Govt halts divestment of eight major SOEs, SC informed

The Attorney General’s Department has informed the Supreme Court of Sri Lanka that the incumbent government will not proceed with the previous government’s decision to divest eight major State-Owned Enterprises (SOEs), including Sri Lanka Telecom, SriLankan Airlines, Sri Lanka Insurance Corporation, and Lanka Hospitals.

This decision was conveyed by a State Counsel representing the Attorney General during the hearing of a Fundamental Rights petition filed by Gunadasa Amarasekara and others, challenging the legality of the proposed divestment.

The case was heard before a three-judge bench of the Supreme Court, comprising Justices Achala Wengappuli, Mahinda Samayawardhena, and Sampath Abayakoon, said Ada Derana reporter.

The petition had named the Cabinet of Ministers of the previous government and former President Ranil Wickremesinghe as respondents.

During the proceedings, State Counsel further informed the Court that, although the divestment decision has been rescinded, a committee has been appointed to oversee the internal restructuring and reorganisation of the relevant enterprises.

Following this submission, counsel for the petitioners, Attorney-at-Law Kanishka Witharana, stated that there was no longer a legal basis to proceed with the petition in light of the government’s formal withdrawal of the proposed sales.

Accordingly, upon consideration of the facts presented by both parties, the Supreme Court bench concluded proceedings and terminated further examination of the petition.