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Milco sales revenue tops Rs. 2 Bn in October

Published

4 weeks ago

on

Milco has achieved a monthly sales target of Rs.2 billion in October, marking the highest revenue recorded within a single month.

Livestock Ministry Secretary Nishantha Wickramasinghe stated that reaching this target within  a month after the new government took office is a positive achievement.

However, he also noted that Milco currently has an outstanding bank loan of Rs.1.8 billion with an annual interest payment of Rs.240 million.

He mentioned that while the previous government had decided to sell Milco due to prolonged losses, the new government has plans to turn it into a profitable entity.  Milco’s current Chairman, Hemajeeva Gotabhaya, reported that achieving the Rs.2 billion revenue in October was possible despite numerous challenges, including a severe labour shortage.

He highlighted that when he assumed the chairmanship, Milco was in poor financial condition and payments to dairy farmers were delayed by around two weeks. Additionally, the internal audit division had been inactive for years, leading to a lack of proper auditing and account verification. Gotabhaya emphasised that he and the board of directors are working to transform Milco into a profitable organisation. He added that plans are in place to ensure that Milco products are made available to consumers countrywide in the necessary quantities.

(dailynews.lk)

(This story, originally published by dailynews.lk has not been edited by SLM staff)

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BIZ

No change in Litro Gas prices for December

Published

17 hours ago

on

December 3, 2024

By


The Litro Gas Company says that the prices of its domestic LP Gas cylinders will remain unchanged for the month of December 2024.

Chairman of Litro Gas – Channa Gunawardena stated that the company decided to keep the prices of LP gas cylinders unchanged despite the price hike in the global market, in order to provide relief to the consumers.

Accordingly, the prices of Litro LP gas domestic gas cylinders will remain unchanged as follows:

12.5kg – Rs. 3,690
05kg – Rs. 1,482
2.3kg – Rs. 694

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BIZ

Special Commodity Levy on big onions, slashed

Published

3 days ago

on

December 1, 2024

By

The Special Commodity Levy imposed on imported big onions, has been reduced by Rs. 20 to Rs. 10 per kilogram.

This will be in effect during the period from today (Dec. 01) to December 31, 2024.

However, it has been decided to keep the Special Commodity Levy imposed on imported potatoes unchanged.

Announcing the decision, a media release issued by the Ministry of Finance, Planning and Economic Development states that the move comes amid a notable rise in the market price of onions.

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BIZ

‘Will take decision if Laugfs Gas fails to supply gas’

Published

3 days ago

on

December 1, 2024

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The government will take a decision if Laugfs Gas fails to intervene to import and supply LP gas to the consumers, Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe has said.

He told reporters that there is no shortage of LP gas supplied by Litro Gas.

‘We have two LP gas companies, Litro and Laugf in our country. There is no shortage in Litro gas at the moment. Laugf Gas must explain the reasons for the shortage in Laugf gas in the market. If Laugf Gas fails to intervene to import and supply gas, the government has to take a decision. There is ample stocks with Litro gas. If gas cylinders have to be changed to find solutions to the issues faced by the gas consumers, the government will have to take a decision regarding that soon,” he has said.

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