Feb 17, Colombo: State-owned commercial fisheries outlet Ceylon Fisheries Corporation has turned around to make profit and has earned a profit of Rs. 1 one million within the first month in this year, the Ministry of Fisheries and Aquatic Resources Development said.
CFC established in 1967 has not made profits over a period of nearly 50 decades, according to the Ministry. It was proposed to be closed down last year but, the current government took measures to operate it under a new management.
A new board of management was appointed following the directives of Minister of Fisheries and Aquatic Resources Development, Mahinda Amaraweera and a voluntary retirement scheme was implemented to reduce the number of excess employees of the establishment. Accordingly, 400 employees had voluntarily retired out of the 745 employees who had been employed exceeding the approved cadre of 1113 employees.
Also, 12 new sales outlets were established in several districts during the last two months of 2016 and 20 more outlets are planned to be opened in this year. CFC has witnessed a profit of Rs. one million within the month of January this year and the desired profit of this year is Rs. 72 million.
Minister Amaraweera mentioned in a recently held progress meeting that the Ministry has the potential to achieve this goal.
A fish processing factory is proposed to be established conjointly with the private sector support to promote Sri Lankan fish exports and discussions are to be held with the Minister of Finance to obtain the required funds amounting to 65 million, said Minister.