Lankapage Logo CP 18 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka Ports Authority's JCT Oil Bank increases profit by 113% in 2016
Fri, Apr 21, 2017, 12:40 pm SL Time, ColomboPage News Desk, Sri Lanka.

Apr 21, Colombo: The Jaya Container Terminals' Oil Bank (JCT Oil Bank) of Sri Lanka Ports Authority has enhanced its profit by 113 percent in 2016 compared to the previous year, Minister of Ports and Shipping Arjuna Ranatunga said.

The primary business of the Jaya Container Terminal limited is to store the fuel supplied for vessels and to supply fuel needed by the companies which provide fuel for vessels in the sea.

According to the Minister Ranatunga, the JCT Oil Bank had earned a profit of Rs 36 million in 2015 and Rs 77 million in 2016. It has reduced the selling cost from Rs 96 million to Rs 92 million and administrative costs from Rs 64 million to Rs 55 million.

The company has 13 fuel tanks with a total capacity of 35000 metric tons. The tanks could store, HFO 380, HFO 180 and MGO fuel categories.

"Preparation of effective management plans by giving the priority to protect the institution has paved way to these accomplishments," Minister Ranatunga said speaking at an event held to welcome the Sinhala and Tamil New Year and to declare accounting records of the institution.

"Employees could protect institutions by earning profits for the government. I am thankful to you about this victory you have accomplished. When these institutions earn profits, there will be no need to sell them," he said.

"If we could not protect leading institutions in this country then it would yield a country with no value in the future. Government is protected through this kind of institutions which earns profits," the Minister said.

Business plan of the Shipping Oil Laboratory to be constructed was handed over to the Minister at the occasion.

 


ColomboPage - Recent 10 Stories ::
Court grants permission to examine the bank accounts of former Ministry secretary and his family
-- [3 hours ago]
Postal voting for Local Government elections to begin on Monday
-- [3 hours ago]
Sri Lanka made little progress on transitional justice initiatives in 2017 - HRW
-- [6 hours ago]
CA Sri Lanka charters Rotaract Club for Chartered Accountants and CA students
-- [7 hours ago]
Public has lost confidence in media due to smart phone culture - Sri Lanka Media Minister
Hemas consolidates FMCG position by acquiring Atlas - Sri Lanka's most loved brand of 2017
Nepal's Army Chief calls on Sri Lankan President
State leaders of Singapore and Indonesia to visit Sri Lanka next week
Hambantota port workers call off fast unto death
Sri Lanka think tank says government decision to ban women from purchasing liquor is unconstitutional

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.