Cabinet approves restructuring of Lanka Sathosa

The Cabinet has given approval for the restructuring of the country's largest state-owned retail chain, Lanka Sathosa. Taking into account the fact that the expected objectives of establishing the Cooperative Wholesale Establishment have not been fulfilled and that the institution is not contributing effectively to the economy, the need to restructure Sathosa has been recognised. Accordingly, the cabinet has approved the proposal presented by the Minister of Trade, Commerce, and Food Safety to appoint an operational and monitoring committee to carry out the restructuring of Sathosa Institute and implement the proposed restructuring