Govt. reverses decision to liquidate CWC, plans revival

Thursday, 27 March 2025 05:16 - - {{hitsCtrl.values.hits}}

Cabinet Spokesman and Minister Dr. Nalinda Jayatissa

Cabinet Spokesman and Minister Dr. Nalinda Jayatissa says move aligns with previous decision to overhaul over 100 State institutions
Claims previous administration decided to dissolve CWC in September 2024
Asserts Govt. sees CWC as vital for affordable goods and market competitiveness

By Charumini de Silva

In a bold policy shift, the Cabinet of Ministers on Monday (24) scrapped the previous decision to liquidate the Co-operative Wholesale Corporation (CWC), commonly known as Sathosa – opting instead to revive its operations based on a feasible business plan.

Addressing the media, Cabinet Spokesman and Minister Dr. Nalinda Jayatissa yesterday said this turnaround is part of a sweeping reform drive targeting over 100 underperforming State institutions approved by the Cabinet-appointed committee led by the Secretary to the Prime Minister (https://www.ft.lk/front-page/Govt--to-overhaul-over-100--non-commercial-State-institutions/44-774437).

“The committee has already conducted a deep dive into 160 State institutions and submitted recommendations for 124 institutions, categorising them under nine groups, whilst the remaining institutions will undergo further scrutiny. The Cabinet of Ministers approved the implementation of these recommendations at the meeting held on 17 March,” he explained at the weekly post-Cabinet meeting media briefing.

The initial decision to dissolve the CWC, established under the Co-operative Wholesale Corporation Act No.47 of 1949, was made at a Cabinet meeting on 2 September 2024 by the previous administration.

However, Dr. Jayatissa pointed out that after reviewing the State institutions, the Government has recognised the CWC’s potential in ensuring a steady supply of quality goods and services at affordable prices to the public, whilst also encouraging market competitiveness.

“The previous administration moved to dissolve the CWC under the Act, but the new Government is taking a different course – breathing new life into the institution rather than shutting it down,” he said.

He claimed that the previous regime has taken certain Cabinet decisions which are difficult to be cancelled, particularly with regards to recruitment processes.

Acknowledging the irregularities, waste, and corruption involved within the CWC, Dr. Jayatissa said the new reform process would address those.

The move also aligns with the Government’s ‘Rich country – Beautiful life’ policy framework.

The proposal to this effect, submitted by Trade, Commercial, Food Security, and Cooperative Development Minister Wasantha Samarasinghe, was approved by the Cabinet of Ministers.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.