Sathosa records Rs. 16 bn loss from 2015-2019 | Daily News

Sathosa records Rs. 16 bn loss from 2015-2019

It has been revealed that Lanka Sathosa has recorded a massive loss of Rs15.96 billion during 2015 – 2019.

Sources have revealed that Lanka Sathosa had posted a loss of Rs. 1.97 billion in 2015 but its loss during the course of 2016 had gone up to Rs 5.11 billion.

It has recorded losses to the tune of Rs 2.78 billion in 2017, Rs.2.92 billion in 2018, and Rs. 3.18 billion in 2019.

It has now been revealed that Lanka Sathosa is yet to settle bills to the tune of Rs. 7.7 billion to suppliers.

Sources said that many suppliers show a reluctance to supply goods to the institution and the number of suppliers bidding for tenders of the Lanka Sathosa has reduced drastically.

The Cabinet of Ministers approved the release of Rs. 2.241 billion to the Lanka Sathosa in September based on a cabinet paper submitted by Trade Minister Dr. Bandula Gunawardena.