COLOMBO, Sept. 4 (Xinhua) -- The Sri Lankan government will liquidate 33 non-functioning state-owned enterprises in two stages, a cabinet spokesperson announced on Thursday.

Nalinda Jayatissa, speaking at a press briefing on the latest cabinet decisions, said these institutions have become defunct due to their outdated mandates, lack of alignment with current market demands, the impracticality of sustaining them, and their poor financial performance.

The liquidations will be carried out by a special unit under the Ministry of Finance, Planning and Economic Development. ■