The National Gem & Jewelry Authority of Sri Lanka classified as a category “B” State Owned Non-Commercial Enterprise

The Department of Public Enterprises of Sri Lanka has by its Circular No. PED/POL/2 issued on April 29, 2011, designated the National Gem & Jewellery Authority (NGJA) of Sri Lanka, as a Category “B” self-funded State-Owned Non-Commercial Enterprise (SONCE), with effect from May 1, 2011.

A State-Owned Non-Commercial Enterprise (SONCE) is defined as an enterprise incorporated by an Act of Parliament, owned and controlled by the Government and executing a statutory function without the main purpose of earning profits.

SONCEs that generate sufficient funds for their operational activities are classified as self-funded SONCEs.

State-Owned Enterprises vary in terms of size of operations, government investment, total assets, number of employees and their business complexity.

Leave a Reply

Your email address will not be published. Required fields are marked *