Decision Reversed: SATHOSA (Co-operative Wholesale Establishment) Back in Business

COLOMBO (News 1st); The Cabinet of Ministers has approved the reactivation of the Co-operative Wholesale Establishment (CWE), which was previously slated for liquidation.

The decision to liquidate the CWE, established under the Co-operative Wholesale Corporation Act No. 47 of 1949, was made during a cabinet meeting on September 2, 2024.

However, recognizing the potential of the CWE to play a crucial role in market operations, the Cabinet has now decided to recommence its business activities.

The CWE is expected to contribute significantly to the government's objective of ensuring a continuous supply of quality goods and services at reasonable prices, thereby promoting market competitiveness.

This move aligns with the "Rich Country—Beautiful Life" policy framework, which aims to drive sustainable economic growth and development.

The proposal to reactivate the CWE was presented by the Minister of Trade, Commercial, Food Security, and Cooperative Development.

The Cabinet's approval includes the development of a feasible business plan to guide the CWE's operations moving forward