by Lal Gunesekera
Minister of Cooperatives and Internal Trade Johnston Fernando said that the loss incurring Building Material Corporation (BMC), since it came under his purview in 2010, has made a profit of Rs. 50 million last year (2011).
He said that the BMC was running at a Rs. 20 million loss in 2010, but he managed to turn it around into a profit making institution. The BMC made a profit of only Rs. 2.1 million in 1999, while the turn over in 2010 was Rs. 250 million, and Rs. 990 million last year.
Minister Fernando said that the BMC was to be closed down, but President Mahinda Rajapaksa had entrusted him with the task of improving the institution and making it a profitable venture, which he as the Minister has been successful.
He said that Treasury assistance was sought earlier to meet the wages of the employees, and that he was happy it was not so now. He thanked BMC Chairman Pavara Dassanayake and workforce.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=42407
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