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* Sugar factories took over by the Sri Lankan government make over Rs. 1.4 billion in profits
Wed, Apr 9, 2014, 07:18 pm SL Time, ColomboPage News Desk, Sri Lanka.

Apr 09, Colombo: The two sugar factories expropriated by the Sri Lankan government three years ago have made nearly Rs. 1.5 billion rupees in profit.

The loss making Sevenagala and Pelawatte sugar factories, which were sold to the private sector by the previous United National Party (UNP) government, have made Rs 1.486 billion in 2013.

A function held today at the Sevanagala sugar factory premises under the patronage of President Rajapaksa to distribute 20 percent of this profit as incentive to the sugar factory employees and to the sugar farmers.

Speaking at the function President Rajapaksa said the government, while ensuring the rights of the employees and the sugar farmers have made the factories profit earning institutions and it is a significant victory achieved by the government.

The Sri Lankan government under the "Revival of Underperforming Enterprises and Underutilized Assets Act" enacted in November 2011 took over the two enterprises.

Uva Province Chief Minister Sashi Rajapaksa, Governor Nanda Mathew, Ministers Jagath Pushpakumara, Sumeda Jayasena, Vijith Vijithamuni Soysa and Lakshman Seneviratne also participated in the occasion.

(Photos by Chandana Perera)

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