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Wednesday May 19th, 2021
Economy

Sri Lanka tax-payers fork out Rs600mn for state plantations

ECONOMYNEXT – Sri Lanka’s tax payers have forked out 600 million rupees through the Treasury last year to cover unpaid employee provident funds of state plantations, where billions more are unpaid, a legislator has said.

The Treasury has paid 600 million rupees in 2015 to settle part of the EPF and ETF dues of Janatha Estate Development Board (JEDB), State Plantations Corporation (SPC) and Elkaduwa Plantations Limited, legislator Velu Kumar has told parliament.

There are 1,931 million rupees of pension and gratuity payments in arrears to workers, he said.

Sri Lanka privatized many state plantation in the mid-1990s reducing their burdens on the people.

Privatized plantations are now paying annual leases for the land to the state and especially during commodity booms, they also pay profit tax.

At the moment private plantations are also suffering from low tea and rubber prices. State enterprises are one of the biggest burdens on the people.

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