Lanka Salt Company Chairman Ayub Khan yesterday said the company, which ran at a loss of Rs. 330 million during the previous regime, was transformed into a profit-making entity within two years.
He said the company had made Rs. 990 million net profit after repaying the debts obtained by the previous government amounting to over Rs. 330 million. The company income in the past two years had topped Rs. 2000 million, he said
Ayub said his company produced and sold 6000 MT of salt in the past two years as against 1400 MT sold in 2014.
He said the company gained Rs. 755 million as sales income in 2014, and the net profit of the year was only Rs. 73 million.
“In 2015, income rose to Rs. 1010, but the company lost Rs.. 170 million as the harvest was affected by incessant rains,” he said .
The Chairman said his management succeeded in repaying all loans that the company obtained in the past. Addressing a media conference at the Information Department yesterday, Khan said the company will not be privatised as it now makes profit.
The company has granted bonus to the employees, he said. Executive Director Keerthi Munasinghe said the company employs 859 in permanent category and 4,000 daily-paid workers.
He said 90 percent shares of the company are with the employees.
The country requires 120,000 MT of salt a year, but the company produces only 100,000 MT a year, he said. “We hope to meet the total requirement soon. We have four salterns, he said
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