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Sri Lanka could have built 130 hospitals for losses at two SOEs

ECONOMYNEXT – Sri Lanka could have built 130, 300 bed hospitals for losses suffered by the Rajapaksa regime at SriLankan Airlines and the 2011 loss of the state petroleum monopoly, a minister has said.

After Emirates management was terminated and the airlines shares were taken back Sri Lankan had lost 128 billion rupees, minister Kabir Hashim told parliament.

"This is enough to build 65, 300-bed hospitals."

He said 130 top grade schools could also have been built with the money.

State-run Ceylon Petroleum Corporation had lost 130 billion rupees in 2011, which was equal to the cost of another 65 hospitals or 130 schools.

Hashim said the losses of the two state enterprises equalled a lost opportunity for 130 hospitals or 260 schools.

Sri Lanka’s current administration has given a steep salary hike for state workers and the central bank is now printing money to finance the deficit. 

The rupee has slid from 131 to 144 to the US dollar as the Central Bank printed money to keep interest rates down. (Colombo/December30/2015)

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