Lankan city...

The government was supposed to implement these reforms by December 2016 under the EFF, but now has re-sequenced the pricing formulae to come into effect on a staggered basis in March and September 2018 for fuel and electricity respectively.

Statements of corporate intent have been signed for key SOES, but some SOES, which the government has been planning for over two years to ‘commercialize’ with sale of shares in the stock market, are yet to take place.

However, Lee said that the exact manner in which the government convinces the public to tolerate the reforms will be left to the judgment of the government.

During the 2nd Review of the EFF, the IMF said that inability to restructure the SOES and implement pricing formulae will result in a massive debt shock, which would increase the debt to GDP ratio from the current 85 percent, to 94 percent, and that it would take until 2022 to return to the current debt to GDP situation. private sector investments and stifling economic value creation.

The government is also sitting on some invaluable plots of lands without earning a cent but incurring carrying values going up to millions.

The informal sector in Sri Lanka has more research access than large hotels, since services such as Airbnb provide insights to accommodation providers based on data collected from customers.