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* Sri Lanka government pays DCSL Rs. 5.71 billion
Fri, Dec 31, 2010, 11:52 pm SL Time, ColomboPage News Desk, Sri Lanka.

Dec 31, Colombo: Sri Lanka's major liquor producer, the Distilleries Company of Sri Lanka (DCSL), received a handsome year-end gift of Rs. 5.71 billion as the government returned the cost paid by DCSL to acquire the Sri Lanka Insurance Corporation (SLIC) from the government.

The DCSL is a subsidiary of conglomerate DCSL Group and operated by businessmen Harry Jayawardena.

The government made the payment as the Supreme Court in 2009 declared that privatization deal that took place in 2003 to sell the SLIC to DCSL was illegal.

A panel of Supreme Court judges chaired by former Chief Justice Sarath N. Silva ordered the government to take over the SLIC taken and pay the costs DCSL paid. The government acquired the SLIC in June 2009.



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