4 May, 2023
The government has decided to disband Maga Neguma Road Construction Equipment Company and four of its affiliated institutions, Minister Bandula Gunawardane said.
Speaking during the weekly Cabinet media briefing, Cabinet Spokesman Minister Bandula Gunawardena said the decision was taken due to lack of funds to maintain them.
Maga Neguma Road Construction Equipment company was established in 2004, as a re-establishment of the former Road Construction Development Company (RCDC).
However, this state-owned entity and its affiliated institutions will be disbanded due to the lack of funds to maintain them, Gunawardena said, adding that these establishments would be dissolved under the state enterprise reforms.