Sri Lanka Railways losses down to Rs6.8bn in 2016

ECONOMYNEXT – Sri Lanka’s state-run railway reduced operating losses to 6.8 billion rupees in 2016 from a loss of 7.7 billion rupees in 2015, mainly owing to an increase in revenue and a reduction in expenditure.

The total revenue of Sri Lanka Railways (SLR) increased 4.6 percent to 6.6 billion rupees last year, while current expenditure decreased 4.6 percent to 13.4 billion rupees, benefitting from low oil prices, according to the Central Bank’s latest annual report.

“The financial position of the SLR moderately improved during 2016,” it said, noting that the government decided to keep the rail tariff unchanged in 2016.

Capital spending of the SLR fell 48.4 percent to 15.7 billion rupees in 2016 from 30.4 billion rupees in the previous year, mainly due to the completion of the expansion of railway services in the northern province.

The Central Bank said Sri Lanka Railways (SLR) made a gradual improvement in its operational activities in 2016.

Rail passenger kilometres went up marginally by 0.1 percent to 7,413 million km in 2016 in comparison to 7,407 million km in 2015, supported by relatively low tariffs, increased road traffic and the expansion of railway services to the Northern Province.

However, freight transport increased as the railway carried more oil and cement, and began transporting coal, with the goods kilometrage up 7.6 percent to 140 million MT km in 2016 from 130 million MT km in 2015 mainly due to the commencement of coal transportation, and increased oil and cement transportation.
(COLOMBO, May 23, 2017)

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