JCT Oil Bank earns Rs 77 mn profit in 2016, up 113% | Daily News

JCT Oil Bank earns Rs 77 mn profit in 2016, up 113%

Jaya Container Terminals’ JCT Oil Bank has enhanced its profit by 113% in relation to 2015, Ports and Shipping Minister Arjuna Ranatunga said. This company had earned a profit of Rs 36 million in 2015. It had earned a profit of Rs 77 million in 2016. It has reduced the selling cost from Rs 96 million to Rs 92 million and administrating costs from Rs 64 million to Rs 55 million.

Ranatunga said the primary business of the Jaya Container Terminal Limited is the storing of fuel supplied for vessels and to supply fuel needed by the companies which provide fuel for vessels in the sea. This company comprises of 13 fuel tanks that could store, HFO 380, HFO 180 and MGO fuel categories. The total capacity of these tanks is 35000 MT.

Preparation of effective management plans by giving the priority to protect the institution has paved way to these accomplishments, Minister Ranatunga said. “Employees could protect institutions by earning profits for the government.I am thankful to you about this victory you have accomplished. When these institutions earn profits, there will be no need to sell them.You didn’t ask for difficult provisions. 

Your requests were reasonable. Hence hardworking employees should be protected. Trade Unions of this institution have gone beyond the party politics and they have unified to protect this institution. That is what government expects from you. I need to develop these institutions by working hard. When we achieve that development then we could say there is no need to sell these institutions and we are earning profits. When institutions do not earn profits then short sighted people around the government try to sell these assets. As a leader who is against the policy of selling state owned assets, as a leader who protect the government assets, contribution you gave to enhance the profit of this institution is a great support to me,” Minister Arjuna Ranatunga said.

The business plan of the shipping oil laboratory to be constructed was hand over to Minister Arjuna Ranatunga.




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