Loss-making state-owned enterprises must make significant progress by 2022, making profits

Prime Minister Mahinda Rajapaksa emphasized at Temple Trees on the 26th that all state institutions should make special progress next year.

The Prime Minister also said that all officials should pay attention to transform the companies that are currently making losses into profit making institutions next year.

The Prime Minister made this observation while participating as the Minister of Urban Development and Housing in the third quarter progress review of the Ministry of Rural Housing and Construction and Building Material Industry Promotion and its affiliates.

Indika Anuruddha, State Minister of Rural Housing and Construction and Building Material Industry Promotion explained the purpose of the event and Sirinimal Perera, Secretary to the Ministry summarized the overall progress made so far.

The Prime Ministers briefed the Prime Minister on the progress made by the National Housing Development Authority, Building Materials Corporation Limited, Building Department, Department of Government Factories, Construction Industry Development Authority, State Engineering Corporation, National Machinery Institute and Oceanview Development Pvt.

Out of 72000 half completed houses, 40723 houses to be completed will be funded annually at a cost of Rs. 500 million, development projects including Rs. The meeting focused on a number of issues, including obtaining some relief from the relevant banks for the loans obtained.

The Prime Minister said that work should not be allowed to falter during this challenging time and advised the officials to take necessary decisions through discussions and complete the relevant work legally.

The Prime Minister said, “It is important to have the support of all the agencies for the completion of the projects in the inter-agency projects.

The Prime Minister emphasized that the quality of raw materials imported for construction should be correct and it is important to guide importers to import the right quality raw materials.
It was also revealed that the State Engineering Corporation, which had been in a loss-making position with the reckless measures taken by the previous government, is now returning to a profitable position.

In addition, it was revealed that the Building Materials Corporation, which had been incurring huge losses due to the distribution of goods by the well-governed government, has now become a profitable institution due to the commitment of the Prime Minister in charge of the subject, the Minister of State and officials.

Several heads of institutions pointed out that a number of institutions which were paying salaries by the treasury through the resumption of development projects that were halted under the previous government are now operating profitably without burdening the treasury.

Minister of State Indika Anuruddha, Secretary to the Ministry of Urban Development and Housing Sirinimal Perera, Additional Secretary Dr. MMSB Yalegama, Senior Assistant Secretary MASK Gunawardena, Chairman of the Housing Development Authority R. Dumindha Silva were present on the occasion. HM Ismail, Director General, Department of Buildings; KP Watuge, Director General, Government Factories; Prof. NTS Wijesekera, Chairman, Construction Industry Development Authority; Bhagya Jayathilaka, Chairman, Machinery, Kalupahana; Mahinda Seneviratne, Chairman, Ocean View Development Pvt. Chandrakumaran, Director, Department of Public Finance, W.H.A. Wimalajeewa, Housing and Infrastructure Project Director and Deputy Director RAMD Rajapaksa, RS Madurapperuma and a number of government officials were present.