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Good Move : Loss making State Enterprises like Srilankan, Mihin to be self financed : Ravi

The Island: Finance Minister Karunanayake said as part of the government’s plan to restructure those strategic SOEs, action had been taken to make SriLankan Airlines, Mihin Lanka, Ceylon Petroleum Corporation and the Water Board to be self-financed with the capital infusion by the general Treasury Under the major restructuring programme the government would make a capital infusion of Rs 65 billion to the Water Board, Rs 100 billion to the Ceylon Petroleum Corp, US Dollar 125 million to SriLankan and US Dollar 25 million to Mihin Lanka in the year 2015 by way of Treasury bonds, he said.

Many of the SOEs were making losses for the last several years. Commercial operations of energy, aviation and commuter transport and plantation clusters had ended up with losses. CPC had an accumulated debt of Rs 234 billion while CEB’s corresponding loss was Rs 57 billion. Sri Lankan airlines debt was running at Rs 124 billion.
Good Move : Loss making State Enterprises like Srilankan, Mihin to be self financed : RaviSocialTwist Tell-a-Friend

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