Fifty-two state entities are estimated to incur losses of up to Rs. 1,100 billion this year, said finance state minister Shehan Semasinghe.
He also told parliament that there was an urgent need to fulfill the conditions and targets set by the IMF.
Semasinghe said further that foreign remittance earnings were up 80 per cent in the first quarter of 2023.
At the same time, import expenditure was down by 37 pc, he said.
The government has decided to grant an additional duty free concession of up to 4,800 US dollars, he added.