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State Trading Corporation earns profits

May 4, 2011 11:30:59 AM - itnnews.lk

The State Trading (General) Corporation which was running at a loss is now a profit-earning establishment. This was revealed by Minister Johnston Fernando.

The Minister said that the State Trading (General) Corporation was running at a loss and had a debt of between 250 and 300 million rupees. The President appointed a new Chairman for its management. Addressing the media today, he opined that the Corporation had achieved a record turnover. It was 1.2 billion rupees. He further revealed that the income earned was 60 million rupees. The Minister was upbeat about it and said that they had developed state institutions in this manner.