- Last Updated on 20 February 2012
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Speaking at a workshop regarding Cooperative Establishment Code held in Colombo yesterday (3rd) Minister Fernando said, “We are pushed towards a massive destruction.
In another five years we’ll have to consider how many billions we are in debt. Government officials do not know about businesses. Can we use them in business? Government officials are there to administer. We have taken a decision in the National Council to employ people in the private sector. Only the private sector could make profits from loans.”
Economists say this could be the first step towards handing over the cooperatives to the private sector.