Cabinet cancels decision to liquidate State Paper Company

The government has identified the re – inauguration of the state enterprises that have been closed without carrying out production activities while the Ministry of Industries and Supply Management has decided to re – start all the public enterprises with the potential for restructuring although not in operation by now.

Accordingly, plans have been drawn to inaugurate manufacturing in the Paper factories under the supervision of State Paper Company (Ltd.) in Walachchenai and Embilipitiya where production activities have been suspended by now while the feasibility studies in the connection is being inaugurated as well.

The Cabinet of Ministers approved the proposal submitted by the Minister of Industries and Supply Management for liquidation of the said company since it is essential that the State Paper Company (Ltd.) remains active for the purposes mentioned above and the cancellation of the decision taken earlier by the Cabinet of Ministers with regard to implementation of a voluntary pension compensation scheme for terminating the service of the employees engaged in service at present.

 

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Author: Biz Editor
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