Thread by @PublicFinanceLK

IMF programmes often include reforming State Owned Enterprises (SOEs) to streamline gov't finances.

#GoSL has 257 #SOEs, out of which 52 are identified as key SOEs

💰How profitable are #SOEs in #SriLanka?

Follow the thread to find out more ⬇
1/7

🚂Sri Lanka Railways has had a track record of continuous losses with a total accumulated loss of LKR 331 Bn from 2010-2020

For more details : bit.ly/3Oy4mvX

2/7

Ceylon Petroleum Corporation (CPC) is the SOE with the largest accumulated loss at LKR 335 Billion as of 2020

Our recent insight finds that the loss can be entirely attributed to poor treasury management

Read the full insight on : bit.ly/3vGZc81

3/7

✈ Sri Lankan Airlines, has an accumulated loss of LKR 316 billion as of 2020

For more details : bit.ly/3OOV9Q3

4/7

Sri Lanka Transport Board recorded a profit from 2017-2019 but it reverted back to recording a loss in 2020

For more details : bit.ly/3EN8ZgV

5/7

#SriLanka Water and Drainage Board managed to record a profit in 2020 following losses for two consecutive years

For more details : bit.ly/3veulkm

6/7

A key issue pertaining to assessing the financial status of #SOEs is limited information.

Out of the 52 key SOEs only 9 SOEs has financial data available until 2020.

If there is no information how will the public hold them accountable?
#PublicData
bit.ly/3rRfryo
7/7

#SriLanka Ports Authority (SLPA) stands out as one of the few #SOEs that have been profitable in recent years.

The SLPA has consistently managed to make an operating profit since 2015 and has also shown net profits since 2016.

More details : bit.ly/3ynV8gb