State Minister for Finance Shehan Semasinghe said at the Ministry of Finance yesterday (05th) that the Treasury is no longer able to protect government institutions that are making losses or have not reached the desired targets. The State Minister also said that allocating money to these institutions means allocating the tax money collected from the common people of this country for the maintenance of these institutions.
The Minister of State for Finance also mentioned that all parties in the country should understand this and therefore the government will act as a regulatory authority in the future without burdening the people and running institutions any more. “Among the 52 strategically important government institutions, 39 are making profits and 13 are making losses. The total loss of those 13 loss-making institutions is Rs. 1029 billion, while the profit of the 39 profit-making institutions is only Rs. 218 billion.” said by the minister.
Due to this the State Minister further said that, as a whole, the annual loss to the government from these government institutions is Rs. 811 billion. (Divaina)
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