Cabinet invalidates the decision to liquidate National Paper Company, approves restarting production

(COLOMBO, LANKAPUVATH) –The Cabinet of Ministers has approved a proposal to revive the national paper mills invalidating an earlier decision to liquidate the state-owned enterprises.

The Government has identified the resumption of state enterprises, which have been closed down without manufacturing activities, as a priority of the Government and the Ministry of Industry and Supply Management has decided to restart all the Public Enterprises which are not currently in production and have the potential for restructuring.

Accordingly, it is planned to commence production at the Valaichchenai and Embilipitiya Paper Mills under the National Paper Company, which are currently inactive and the relevant feasibility studies are currently underway.

As it is essential that the National Paper Company be active for the activities, the Minister of Industry and Supply Management has proposed to revoke the Cabinet decision taken earlier to liquidate the Company and implement a voluntary retirement compensation scheme to terminate the services of its existing employees.

The proposal put forward by Minister of Industry and Supply Management Wimal Weerawansa has received the cabinet approval.

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