President Ranil Wickremesinghe says the government is considering privatizing several state-owned enterprises.

In an interview with The Economist, the President said that the national carrier, Sri Lankan Airlines, Sri Lanka Insurance, and Sri Lanka Telecom may be privatized.

The President further said that the privatization of the Ceylon Petroleum Corporation (CPC) was also being considered.

Stating that Sri Lanka will open up investments, he said, however, discussions will have to be held with all holders of concessions as some have been in operation for over 40 years.

When inquired about trade unions being hostile toward the restructuring of some state-owned enterprises, the President said, “I don’t worry about unions, what matters is people”.

President Ranil Wickremesinghe said that people will accept the decision if they think things can get better.

The President went on to note that laws governing the offshore economy also need to be amended.

He added that Sri Lanka is looking at Ireland as a role model in this aspect. (NewsWire)