November 21, 2018

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    Stop to selling state resources helped develop the country - President Featured

    April 10, 2014

    The Sevanagala and Pelwatte Sugar Factories which were sold for a mere pittance earned a profit of 1486 million rupees last year after being reacquired by the present Government.

    As envisaged  in the Mahinda Chinthana to make state establishments sold by previous administrations for a mere sum profittable entities, the Sevanagala Sugar Factory which was re-acquired by the Government on 11th November 2011 has been made a  profit earning institution within two years.  guaranteeing the security of all workers and the services of the farmers.

     

    "We firmly believed that selling public resources will not solve problems in the country and  this decision of the Government to stop selling state resources helped develop the country" said President Rajapaksa speaking at the presentation of incentives to employees and farmers of Sevanagala sugar factory at the Sevanagala sugar factory premises on Wednesday (9).

     

    The President said the Sevanagala and the Pelwatte sugar factories have earned a profit of   1486 million rupees last year setting an example to other institutions too.

     

    The President said that the granting of incentives is a new message. This company was under the control of the private sector for over 10 years and the President said the government was able to turn this factory into a viable venture within two hand half years after re-acquiring it. The government was of the firm stand against the privatisation of national resources. as it witnessed the repercussions and the sufferings of the  people  as a result. The President added that the farmers received Rs. 3,200 for a metric tonne of sugar cane when the factory was operated by the private sector. The government increased the price for a metric tone by more than Rs. 1,000.

     

    The President also pointed out that this is not the first institution that was sold for a song to the private sector. The Insurance Corporation and Sri Lanka Telecom too were sold out," he said. The Government has re=qcquired these institutions. As a result they have been able to rebuild the country’s economy. The country has now developed. The President said this is an honour received for their sweat. He called on the workers to work hard to protect their workplaces and to achieve more profits in the future.

     

    President Rajapaksa symbolically presented incentives to farmers and employees of the company yesterday. The President added that the farmers received Rs. 3,200 for a metric tonne of sugar cane when the factory was operated by the private sector.
     
    Ministers Lakshman Seneviratne, Vijith Vijayamuni Soysa, Sumedha Jayasena and Jagath Pushpakumara, Uva Governor Nanda Mathew, Chief Minister Shashindra Rajapaksa, Parliamentarian Vijith Weragoda and several political representatives were present on the occasion.

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