Sri Lanka’s state-owned enterprises are a major source of corruption, and are beset by bad governance and some are operating with special privileges and monopoly power, a think tank said.
“State-owned enterprises are a major source of corruption vulnerabilities in Sri Lanka,” Rehana Thowfeek, research consultant at Advocata Institute said.
“I don’t think there’s anyone who can deny that. They distort markets.”
In Sri Lanka, SOEs dominate key sectors like banking, energy, telecommunications; and often times there is very little competition with them becoming forced monopolies, she said.
