The Cabinet of Ministers has granted approval to cancel the liquidation of the Cooperative Wholesale Establishment (CWE), to rejuvenate it and recommence commercial operations.
Speaking during the Cabinet press conference held today (26), Cabinet Spokesman Minister Dr. Nalinda Jayatissa stated that the previous government had decided to liquidate the Co-operative Wholesale Corporation Act No. 47 of 1949 and to liquidate the said establishment.
However, there is a possibility to perform a decisive role for the Co-operative Wholesale Corporation in the implementation of government roles within the market operation with the objective of a continuous supply of quality goods and services to the public under a reasonable price through the promotion of market competitiveness in compliance with the “Rich country—beautiful life” policy framework, he noted.
Therefore, the Cabinet of Ministers has approved the proposal presented by the Minister of Trade, Commercial, Food Security, and Cooperative Development to abolish the previous cabinet decision in respect of the liquidation of the Cooperative Wholesale Corporation and recommence the business activities of the said corporation based on a feasible business plan.
