Sri Lankan state-owned institutions have lost billions of rupees in the last year alone according to a report from the Committee on Public Enterprises (COPE).
COPE, a parliamentary run committee headed by Minister D E W Gunasekera, stated that the Ceylon Petroleum Corporation, National Paper Company and Sri Lanka Airlines generated a combined Rs.40.2 billion loss from May 7 to September 26, 2014, reported ColomboPage.
Meanwhile, Transport Minister Kumara Welgama told Parliament that Sri Lanka Railways had also suffered a loss of over Rs. 5 billion in the last year.
See more from the Island here.
Sri Lankan airlines, one of two airlines run by the government has been posting continuous losses for years, requiring government funding to stay afloat.
See our earlier posts:
Airline losses due to government entourage flights - UNP (13 June 2012)
Rajapaksa pilots Sri Lanka's airlines (03 May 2012)
Sri Lankan Airlines looks for external sources to stay afloat (03 December 2011)
Also see:
Rs. 95 billion loss and ‘a high quality service’ (03 January 2013)
Rs 100bn loss for Ceylon Petroleum Corporation (01 December 2012)
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