The State-Owned Enterprise (SOE) Restructuring Unit, tasked with overseeing the revival of loss-making public enterprises, has reportedly been effectively shut down, according to the latest audit report.

The 2024 audit report, released by the National Audit Office, states that more than Rs. 120 million was spent over 2023 and 2024 to maintain the unit’s operations.

About half of this—Rs. 60 million—went to salaries and wages for staff.

Auditors noted that the unit’s operations have been temporarily suspended since February last year, raising questions over the effectiveness of funds allocated to it.

(Lankalokaya | Asela Perera)