Proper management revived State plantations
The Government has transformed State Plantation companies into
profitable concerns by implementing proper management strategies with
the help of the Strategic Enterprise Management Agency (SEMA).
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Plantation companies have turned profitable |
This has not only dispelled the notion that State enterprises were
white elephants burdening the national exchequer, but also set a good
example to other state enterprises, said President Mahinda Rajapaksa.
The President made this observation when cheques totalling Rs. 51
million were handed over to him by Public Estate Management and
Development Minister Milroy Fernando as profits earned by the Chilaw,
Kurunegala and Elkaduwa Plantation Companies, at Temple Trees on
Wednesday.
The breakdown of cheques was Rs. 30 million from Chilaw Plantation
Company, Rs. 20 million from Kurunegala Plantation Company and Rs. 1
million from Elkaduwa Plantation Companies.
A Presidential Media Unit release said these three plantation
companies wee under private sector management for 15 years since 1992.
They had incurred a loss of Rs. 30 million annually and depended on
treasury funds for their upkeep.
They have now become profitable enterprises after they were taken
over by the government in 2004. Senior Presidential Advisor and
Parliamentarian Basil Rajapaksa and SEMA Chairman Willie Gamage were
also present on the occasion.
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