There were eight non-functional public institutions and four of them had been marked for liquidation, Deputy Finance and International Monetary Cooperation Minister, Dr. Sarath Amunugama told Parliament yesterday.
Responding to a query raised by UNP Colombo District MP, Ravi Karunanayake, the minister said that Janatha Fertiliser Company, Hingurana Sugar Corporation, Sri Lanka Rubber Manufacturing and Export Ltd. and Lanka Fabric Ltd. would be liquidated soon.
The total loss suffered by those four institutions was over Rs. 1,980 million, the minister said. Losses suffered by those institutions are as follows according to the minister: Janatha Fertilizer Company – Rs. 1,355,550.70 as at July 31, 2012, the Hingurana Sugar Corporation – Rs. 1,734,056,929.69 as at March 31, 2007, Sri Lanka Rubber Manufacturing and Export Ltd – Rs. 133,379,304.00 as at March 31, 2011 and the Lanka Fabrics Ltd – Rs. 15,773,188.00 as at March 31, 2010.
Four other public institutions, Lanka Salusala, Cooperative Wholesale Establishment, State Commercial Company Ltd. and Kantale Sugar Corporation would be rehabilitated, the minister said. Losses suffered by them are as follows: Lanka Salusala – Rs. 834,632,492.00 as at March 31, 2012, the Cooperative Wholesale Establishment – Rs. 926,124,400.00 as at December 31, 2010, the State Commercial Company Ltd – 11,196,713.00 as at March 31, 2012 and the Kantale Sugar Corporation – Rs. 9,717,471.00 as at December 31, 2012.
The Island