The main challenge for public enterprises is profit generation while maintaining economic growth – President

The main challenge for public enterprises is profit generation while maintaining economic growth – President
  • Non-profit state institutions should provide efficient services to the public

President Gotabaya Rajapaksa says that the rapid economic growth must be a priority of all public enterprises.

He pointed out that it is the responsibility of the heads of state institutions to eliminate inefficiency and increase the efficiency as well as to generate profits without being a burden to the government.

The President made these remarks when he met with the newly appointed Chairmen and Senior Executive Officers of State Corporations and Statutory Boards, which are directly contributing to the national economy and public services, at the Presidential Secretariat, today (24).

‘Our country was in the forefront of Asia in terms of economic growth during the period of 2005-2014. Economic growth has slowed down in the last few years. Creating an economic revival is one of the biggest challenges we face today’, the President said.

New technology must be utilized to rebuild the economy. Skilled labor force is another important factor. The necessary amendments should be done in the education system also, to create a strong economy. President Rajapaksa said that it is a topmost priority to get more youth involved in tertiary education.

‘The government must identify the areas that can serve the people and contribute more to economic growth, and should develop those sectors. In this process institutions such as the Tourist Board and the Board of Investment have a major responsibility. These institutions should contribute to the economic revival of the country, in spite of the allegations leveled against these institutions during the past era’, the President said.

President Rajapaksa pointed out that investing in areas outside Colombo is a solution to the urban congestion issue and that they should be provided with new technology and advanced infrastructure facilities. The President stressed that he is ready to provide solutions for all the issues that may arise when implementing this initiative. He requested the heads of institutions to assist him in consolidating people’s confidence placed on him at the last presidential election.

Secretary to the President, Dr. P. B. Jayasundara and Mr. Lalith Weeratunga, Honorary Advisor to the President also participated in this meeting.

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