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* Sri Lanka's state owned dairy producer loses Rs. 200 million due to strike
Fri, Dec 27, 2013, 10:56 am SL Time, ColomboPage News Desk, Sri Lanka.

Dec 27, Colombo: The state owned dairy milk company in Sri Lanka, Milco (Pvt) Ltd., has said that the strike action by the company's employees has caused a Rs. 200 million loss to the institution.

Milco employees have launched a strike action accusing bribery and corruption in the company's Board of Directors and have called on the government to take immediate action against the Board members.

The employees of Milco's Highland factory in Narahenpita have launched a strike demanding the removal of the director of the company. The strike has affected the supplies of locally produced Highland brand of dairy products.

Responding to allegations of bribery and corruption levelled against the institution's Board of Directors by the employees, the management said it was ready to face the allegations.

Chairman of Milco, Sunil Wickremasinghe told a news conference that he was ready to face any allegation levelled against him.

He said the company has incurred a Rs. 200 million loss due to the strike.

The Chairman asked the workers to stop boycotting work and return to their stations since the strike has been launched without the permission of the Board.

According to the Chairman, the losses incurred by Milco that were reported in the report by the Parliamentary Committee on Public Enterprises (COPE) were due to the increase in fuel prices, the purchasing of fresh milk for Rs. 50 per liter as against the previous price of Rs. 25 per liter and the allocation of only Rs. 160 million by the Treasury for its operations, instead of the Rs. 190 million that was promised.

** Related Story :: Severe shortage of milk powder in Sri Lanka

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