Rs. 152 billion loss for 21 state enterprises in 2019

The recently issued annual Central Bank report revealed that state enterprises suffered a loss of Rs. 152 Billion in 2019. The enterprises which collectively suffered nearly 93 per cent of the loss included the Ceylon Electricity Board (CEB), Ceylon Petroleum Corporation (CEYPETCO) and Sri Lankan Airlines. 

According to the report the CEB had covered its losses through bank loans. It still owes nearly Rs. 122 Billion to CEYPETCO and private power generation companies. 

CEYPETCO had suffered a loss of Rs. 11.8 Billion in 2019. According to the report it had Rs. 164 Billion owed to it by the end of 2018.

Meanwhile, Sri Lankan Airlines had suffered a loss of Rs. 44 Billion in 2019 alone and its total cumulative debt by the end of the year was an estimated USD 699 Billion. It owned nearly Rs. 26.8 Billion to CEYPETCO according to the report. 

Other enterprises that suffered losses were the National Water Supply and Drainage Board, Lanka Sathosa, Lanka Sugar and the State Engineering Corporation.