Over 250 state institutions suffered losses in 2014

EranOver 250 state institutions suffered losses in 2014, Deputy Minister of Public Enterprise Development Eran Wickramaratne told Parliament today.

He said that political interference and poor management were the main causes for the losses.

Wickramaratne said that the problem the Government has is to identify who is directly responsible for the losses.

Sri Lanka’s national airline, Srilankan Airlines was among the state institutions which suffered the highest losses. (Colombo Gazette)

1 COMMENT

  1. This is not a shocking news. The reason is simple they were established to employ friends and relations who will be answerable to none. People do not expect profit from these organisation, but definitely not a loss. Due to poor Management cost of products or services go up. Private sector doing business in the same area make super normal profit due to these since their pricing strategy is based on State organisations pricing. Disposing these organisations to Private sector friends almost free as happened in Insurance Corporation is not the answer. We expect a better module from Yahapalanaya.

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