Welgama admits CTB rides on Rs. 4 b loss following Ravi K poser

Thursday, 11 September 2014 00:41 - - {{hitsCtrl.values.hits}}

By Ashwin Hemmathagama Our Lobby Correspondent The Sri Lanka Transport Board has incurred a Rs. 4 billion loss before depreciation during the two-year period 2012-2014, Minister of Transport Kumara Welgama confirmed in Parliament yesterday.

“The loss after deprecation exceeds Rs. 7 billion,” he confirmed, anticipating the losses would increase during the next two years. According to Minister Welgama, the expected losses in 2015 will be 7.2 billion and in 2016 it will exceed Rs. 8 billion due to a series of issues. “There are 33,293 employees in the Sri Lanka Transport Board. There is no employee shortage at present. New recruitment took place for drivers, conductors and technicians to replace those who will retire in the future. With the anticipated purchase of 2,200 new buses, we may run short of employees,” the Minister confirmed, responding to a question for oral answer raised by UNP MP Ravi Karunanayake. “Cost per employee per month remains at Rs. 85,730.69 against the income of Rs. 80,880.85, so the loss per employee comes to Rs. 4,849.8. The Sri Lanka Transport Board is in debt, which exceeds Rs. 778 million. Werahera, Ekala, Kahagolla and Keppetipola workshops were sold during the UNP regime. Now we outsource the repairs,” the Minister said. However, MP Karunanayake suggested that the Minister seek Cabinet approval to obtain fuel at a subsidised price to curtail the loss. “We know that you are a Minister who works for the betterment of the country driven by a useless Government. SriLankan Airlines enjoys the fuel subsidy, to which the Sri Lanka Transport Board is also entitled. It is recommended to explore the possibility of having a 24-hour bus service as well,” said MP Karunanayake.

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