CTC Chairman Appointed as the Head of the State Owned Enterprises Restructuring Unit (SRU)

From TobaccoUnmasked

Background

State-Owned Enterprise Restructuring Unit (SRU) was established under the Ministry of Finance, Economic Stabilisation and National Policies.[1] to reform State Owned commercial Enterprises (SOE). Under this unit, the Cabinet of Ministers approved the proposal to facilitate divestment from Seven SOEs presented by the President Ranil Wickremasinghe. Those SOEs are listed below.[2][3][4]

Suresh Shah Appointed as the Head of SRU

In September 2022, media reported that Suresh Shah was appointed as the Head of State-owned enterprise (SOE) restructuring unit. [5] At that time Shah was serving as the Chairman of Ceylon Tobacco Company PLC (CTC) and an Executive Director of Carson Cumberbatch PLC [6]

Image 1: Media reporting the government decision on reform State Owned Enterprises.[4]

Impact

This appointment is contradictory to the recommendations of the FCTC Article 5.3 on avoiding conflicts of interests in public health policies. Please refer to the page on FCTC Article 5.3 for more details.

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The local language translations

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Notes

  1. ↑ Ministry of Finance, Economic Stabilisation and National Policies. State Owned Enterprise Restructuring Unit, undated, accessed December 2023
  2. ↑ Daily FT. Cabinet approves transaction advisors for sale of 7 SOEs, 12 July 2023, accessed December 2023
  3. ↑ The morning. Cabinet approves transaction advisory services for divestment of 7 SOEs, 11 July 2023, accessed December 2023
  4. ↑ 4.0 4.1 Daily Mirror Online. Government finalises transaction advisors for divestment of 7 SOEs, 11 July 2023, accessed December 2023
  5. ↑ I Gamage. Suresh Shah to head proposed SOE restructuring Unit, Ceylon Today, 10 September 2022, accessed December 2023
  6. ↑ The Morning. CTC appoints Suresh Shah as Chairman, 17 February 2021, accessed December 2023
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