Government Companies lose 10.5 Billions in 8 months

As per the ‘Fiscal Management Report 2020–21’ issued by the Minister of Finance, 31 out of 52 state owned enterprises have incurred a loss during the first 8 months of 2020.

According to the report, there has been an overall loss of Rs. 10,447 million from all 52 state owned enterprises.

Ceylon Electricity Board, Ceylon Petroleum Corporation , Sri Lankan Airlines, SLTB, Lanka Sathosa, State Engineering Corporation, HDFC bank and the state owned TV channels Rupavahini and ITN were among the list of institutions which incurred heavy losses.

Employees Trust Fund, Bank Of Ceylon, Sri Lanka Ports Authority, Development Lotteries Board, National Insurance Trust Fund, State Pharmaceuticals Corporation and Lanka Sugar company Ltd. were among the state owned enterprises that made a profit according to the report.

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