The government has initiated comprehensive measures to right-size and enhance the governance of State-Owned Enterprises (SOEs), addressing systemic challenges such as financial deficits, corruption risks, and unsustainable operational costs driven by a workforce exceeding 41,000 employees. Beyond structural organizational changes, the government has decided to dissolve the financially distressed Fenaka Corporation and integrate its operations into STELCO. Similarly, the Road Development Corporation (RDC) will be dissolved and merged with MTCC, while AgroNet is set to be brought under the management of MIFCO. Furthermore, negotiations are currently underway for the government to acquire a majority stake in Dhiraagu and to repurchase all outstanding shares in MWSC, effectively converting it into a fully state-owned entity. The primary objectives of these reforms are to minimize corporate expenditure, optimize operational efficiency, and elevate the standard of public services.
