SEMA strategies to turn loss making ventures

Shirajiv Sirimane

ENTERPRISE MANAGEMENT: The Government is in the process of turning around loss making entities into profit making ventures.

The new Strategic Enterprise Management Agency (SEMA) headed by Additional Secretary to the President, W. W. Gamage has been appointed by the President Mahinda Rajapaksa to meet this objective.

The new committee will start their operations today.

The other committee members appointed are Secretary to the Plan implementation, Ajith Cabraal, leading entrepreneur and BOI member Dhammika Perera, former General Manager Bank of Ceylon, Sarath De Silva, Former coordinator of the SME cluster in the National Council of Economic Development, Chris Dharmakeerthi and former Chairman of the Chartered institute of Logistics and Transportation, Rohan Abeywickrama, and Director General Finance Ministry (State Accounts) P. A. Prematillike.

There are 20 state owned enterprises that come under their purview out of which some are running at a loss.

The President has also directed to include eight additional institutions to the original 12.

The ventures coming under the SEMA are:

The full list of strategic State enterprises which come under SEMA now are: Bank of Ceylon, People's Bank, National Savings Bank, State Mortgage and Investment Bank, Lanka Puthra Bank*, Ceylon Electricity Board, Ceylon Petroleum Corporation, Sri Lanka Ports Authority, Airports and Aviation Services (Sri Lanka) Ltd, State Pharmaceuticals Corporation, Sri Lanka Central Transport Board and Regional Cluster Bus Companies, Department of Sri Lanka Railways, National Water Supply and Drainage Board, Janatha Estate Development Board*, Sri Lanka State Plantations Corporation*, Chilaw Plantation Ltd*, Elkaduwa Plantation Ltd*, Kurunegala Plantation Ltd*, National Livestock Development Board* and the Sri Lanka Cashew Corporation*. (* Denotes new enterprises)

Secretary to the Plan Implementation, Ajith Cabraal said that the Government wants these enterprises to be run like commercial establishments, which would be able to deliver results.

The SEMA is planning on adopting new strategies to turn around loss making ventures in to profitable establishments.

The President has given clear instructions to the SEMA not to privatise any of the state ventures. Already Kabool Lanka, which was closed for many years, is to be re-opened while some of the other Government owned enterprises such as the Paper Corporation in Embilipitiya has been already opened.