Sri Lanka decides to divest stake in seven state-owned enterprises

Sri Lanka has decided to divest its stake in seven state-owned enterprises. Sri Lanka President Ranil Wickremesinghe said the state has no business engaging in business and cited India’s example of divesting from Public Sector Undertakings. He said that the crisis-hit island nation is trying to embark on a path of recovery and rapid development, and Sri Lanka must follow India’s example. He added that and said Sri Lanka has been spending more on the state-run Ceylon Electricity Board and the Ceylon Petroleum Corporation than on education.