'BMC earns Rs 50 m profit'

Ishara MUDUGAMUWA

The Building Materials Corporation (BMC) has earned Rs.50 million as profit in 2011, said Cooperatives and Internal Trade Minister Johnston Fernando.

"Total sales of the BMC in 2011, was 990 million and in 2010 it was 250 million." When I was appointed as the Cooperatives and Internal Trade Minister, the BMC was running at a loss of 20 million. So, I am very happy with the success," said the Minister.

"The last time it earned a profit was in 1999 which was Rs 2.1 million and it was proposed to close the BMC. But President Mahinda Rajapaksa directed me to develop it. Now it has become a profitable institute. Until 2010 the Treasury provided funds to pay salaries to the BMC workers and after I was appointed as the minister I never asked for Treasury funds to pay salaries," he said.

The minister also said that the chairman and all workers of the BMC were performing a great service. BMC Chairman Pawara Dissanayake's service should be highly appreciated since he was rendering his service without a salary.

The BMC was established in 1970 under Act No 33 of Sri Lanka Government Trade Corporation and it was converted into public company in 1992 under the Act No 23 of 1987.