Good times ahead for State Trading Corp employees

Irangika RANGE

The Sri Lanka State Trading General Corporation (STC) has recorded a significant net profit amounting to Rs. 15 million after 12 years in 2008 as a result of restructuring the institution under the Mahinda Chinthana policy.

STC Chairman Pradeep Gunawardana said the Corporation which maintained long term customer relationship through high quality consumer service faced loss from 2001 to 2008.

“This Government which came to power in 2005 had taken action to revive the STC and the institution has begun to earn a profit from last April 11,” he said.

The STC management has decided to provide an incentive allowance of Rs. 12,000 to each employee after 10 years in the STC history. Half of the allowance was paid in December.

The balance is expected to be paid shortly. Gunawardana said the Government which was in power between 2001 to 2004 had privatised several businesses of importing and distributing consumer products under the STC. The STC faced a loss as a result of this.

He said the corporation is gradually making profits now. Meanwhile, the STC has also been able to cover the Rs. 52 million bank draft due to this profit making.

“We have targeted to earn a profit of Rs. 1,000 million this year,” he said.