Sri Lanka state bus, rail to be self-financing by 2018: Budget 2017
Nov 10, 2016 16:25 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – Sri Lanka’s loss-making state-owned bus and railway services will be expected to be self-financing in two years, Finance Minister Ravi Karunanayake told parliament.
Delivering the 2017 government budget speech, he said the government railway and transport board have to be financed by the Treasury to the tune of Rs25 billion each year but their performance was “below par.”
“So the economic cost due to inefficiencies in public transport systems is enormous,” Karunanayake said.
“Therefore, they must adopt commercially viable business plans to make maximum use of public assets and be self-financing by 2018.”
(COLOMBO, Nov 10, 2016)