The Cabinet of Ministers has approved the cancellation of the liquidation of the Cooperative Wholesale Establishment (CWE), Cabinet Spokesman Minister Dr. Nalinda Jayatissa said today.
Addressing the post-Cabinet media briefing, Minister Jayatissa said the cancellation has been approved to rejuvenate the CWE and recommence commercial operations.
The then Cabinet of Ministers had decided in September 2024 to liquidate the Co-operative Wholesale Corporation Act No. 47 of 1949 and to liquidate the said establishment.
According to the government, however, there is a possibility to perform a decisive role for the Co-operative Wholesale Corporation in the implementation of government roles within the market operation.
The government says CWE is capable of providing a continuous supply of quality goods and services to the public at a reasonable price through the promotion of market competitiveness in compliance with the “Rich country—beautiful life” policy framework.
Therefore, the Cabinet has approved the proposal presented by the Minister of Trade, Commercial, Food Security, and Cooperative Development to abolish the previous cabinet decision on the liquidation of the CWE and recommence its business activities based on a feasible business plan. (Islandnews)
