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::

* Interference in state institutions a problem - State Minister
Wed, Nov 29, 2017, 11:22 pm SL Time, ColomboPage News Desk, Sri Lanka.

Nov 29, Colombo: Minister of Public Enterprise Development, Lakshman Yapa Abeywardena said that state institutions cannot be taken forward if there unnecessary interference into the affairs of those institutions.

Speaking at the 2018 budget committee stage debate of his ministry in parliament on Wednesday, the State Minister said when entered into an open economy, one has to face a competitive situation.

He said that some of the state institutions, which incur losses and had been a burden to the state, have been revived and made profitable from 2015 and their performance in the last two years is satisfactory.

The state Minister said today the need is to increase the government revenues and without bringing in foreign investments and managing the state institutions, the economy cannot be uplifted.

He noted that among the state institutions the Bank of Ceylon is in the top 14 banks of the world and it is the strongest bank and in a stable situation.

Similarly, the People's Bank has launched the "Self Help Loan Scheme" and contributed to create self-employment throughout the country.

The production at the Ceramic Corporation increased by 108.7% by 2017.

"When the administration changed, these institutions became profitable," he noted.

Speaking about the losses incurred by the national carrier SriLankan Airlines, the State Minister said the country should have a national carrier and no profit can be earned in the world only from airlines. "There should be different services to earn profit," he said.

"There is an opinion in the country that SriLankan is going to be sold. We must have our own national airline. What we need to do is to find ways to reduce the losses, not to burden the Treasury heavily" he said.

 

ColomboPage - Recent 10 Stories ::
India International Textiles Expo- Colombo 2018 opens
-- [6 hours ago]
Government to prioritize projects in fields most effective to public
-- [6 hours ago]
SAITM students to be enrolled in Kotelawala Defense University
-- [7 hours ago]
Diyathalawa bus explosion: grenade was in a soldier's bag - police
-- [8 hours ago]
Sri Lanka unity government will continue, agreement still valid - PM
-- [8 hours ago]
Sri Lanka summons defense attaché at London to Colombo
-- [9 hours ago]
EU urges Sri Lankan government to honor commitments to OMP and transnational justice
-- [9 hours ago]
President stresses improving efficiency of Mahaweli projects to benefit farmer community
Sri Lanka nationwide inflation declines to 5.4 percent in January 2018
Plan to develop Ratmalana Airport to provide efficient international flight services

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.