SLPA record profits good example for other state entities

Monday, 12 March 2018 00:00 - - {{hitsCtrl.values.hits}}

It was indeed very refreshing and heartening to read in the print media that the Minister of Ports and Shipping, Mahinda Samarasinghe, stated that the profit made by the Sri Lanka Ports Authority (SLPA) hit a fantastic figure of Rs. 13.2 billion for the year 2017 as against a mere Rs. 1 billion in 2016.

I am not aware of all the reasons that have led to such a phenomenal rise in profit but one has to compliment Dr. Parakrama Dissanayake, the Chairman of SLPA, for this achievement. His knowledge of the working of the port and the experience he has gathered in working at the port for several years, have no doubt contributed towards this wonderful achievement.

The Minister goes on to say: “What I would like to state here is that the SLPA would not need to depend on the Treasury to sort out financial needs.”

“We have signed with 23 unions, that benefit would accrue to them as well. We have every reason to believe that profits for the year 2018 would continue to bring in similar profit levels,” he added. The Minister was speaking as the Chief Guest at the ICS.

If only other state investments could show such results, how wonderful would it be for Sri Lanka. Most of the state-owned enterprises are losing money and continue to operate for no good reason.

Gulam Chatoor