State Minister of Fisheries Kanchana Wijesekara recently said that pivotal steps would be taken to transform the Ceylon Fisheries Corporation (CFC), which had been a loss-making institution for the past few years, into a profitable institution as soon as possible.
In this context, as a measure taken to achieve this objective, the first outlet of a modernised network of sea fish outlets, which is expected to be built around the country, was launched in Gampaha yesterday (22) under the direction of Wijesekara himself
Furthermore, the State Minister added that it was essential to strengthen the sales network of the Fisheries Corporation.
The marketing network of sea fish outlets was primarily initiated with the aim of making the CFC a better serving and profitable institution in Sri Lanka.
Fisheries Minister Douglas Devananda, gracing the launch as the Chief Guest, pointed out that 25 modernised, high-quality outlets will be set up throughout the country.
Devananda also added that in the future, the Fisheries Corporation outlets will be able to compete with the modern outlets in the private sector.
According to figures from the 2014 financial report of the CFC, it experienced an increase in losses to Rs. 68.97 million, Rs. 41.76 million, Rs. 54.45 million and Rs.119 million from 2011 to 2014, respectively.
Also, other statistics suggest that the CFC has made only a small profit in the years 2001-2002 and 2017-2018.
According to local reports, one of the causes of the losses in the company may be influenced by the firm being overstaffed, as there are 244 employees at the head office alone.
Thus, making payments to the employees along with allowances was said to be a huge problem under the current financial status of the company.
Minister pledges to make Fisheries Corp. profitable
23 Mar 2021
Minister pledges to make Fisheries Corp. profitable
23 Mar 2021
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