Department Of Public Enterprises Sri Lanka, a new Sri Lanka through an economic environment that facilitates rapid development and investment.
Design, propose, execute and evaluate, with efficiency and transparency,
economic and fiscal policies of the country towards promoting investment
and economic development to ensure quality living for the people
- Formulate national economic and financial policies and strategies of the country.
- Formulate fiscal policy and macro fiscal policy management.
- Prepare national development plan and management of financial resources.
- Manage national tax policy and effective use of government revenue.
- Formulate monetary policies, in coordination with Central Bank.
- Coordinate public and private sector activities and facilitation of the private sector for economic development.
- Coordinate with international agencies and mobilize foreign resources ensuring effective use.
- Manage and accounting for the consolidate fund and publication of annual accounts of the country on international standards.
State Owned Enterprises (SOEs) , governed by the “Administer Part II” of the Finance Act, No 38 of 1971 and the Companies Act, No. 07 of 2007, remain as an integral component of Sri Lankan economy, being most prevalent in strategic sectors of the country including energy, water, ports, banking and insurance, commuter transportation, aviation and construction.
At present, 287 SOEs are being monitored by the Department of Public Enterprises (PED) and the rest comes under the purview of the Department of National Budget (NBD).
Out of the 287 SOEs, 54 SOEs have been identified as strategically important State Owned Businesses Enterprises that plays a catalytic role in transforming the country’s economy to a high growth trajectory.
The PED introduced the concept of Statement of Corporate Intent (SCI), the tripartite agreement containing key performance indicators targeting the key activities of the entity in 2017.
This was initiated with five Key SOBEs, Ceylon Petroleum Corporation (CPC), Ceylon Electricity Board (CEB), Sri Lanka Ports Authority (SLPA), Airport and Aviation Services (Sri Lanka) Limited (AASL) and National Water Supply and Drainage Board (NWS&DB). Such SCIs are monitored by PED and the PED submits a progress report to the Cabinet of Ministers periodically.