A new chief executive officer and senior officials were appointed to the Cooperative Wholesale Establishment (CWE) as part of efforts to revive the state institution and improve its efficiency.
The appointments were presented on Oct. 19 at the Ministry of Trade, Commerce, Food Security and Cooperative Development by Minister Wasantha Samarasinghe.
Established in 1949, the CWE operations were previously suspended and moved towards liquidation in 2023. The government subsequently decided to re-establish the institution to strengthen state intervention in supplying essential food items at fair prices.
The revival plan includes identifying the institution’s assets, importing goods directly, purchasing produce from local farmers and developing a nationwide distribution network.
The ministry said outstanding payments of Rs. 30 million to the employees’ welfare association had also been settled and employees’ deposits released.
The new officials were selected through interviews, with the ministry stating that the process was conducted transparently and without political interference. (Newswire)