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Renuka Perera to be appointed Milco Chair 

20 Jan 2022

  • Lasantha Wickremasingheto be transferred to a different position 
BY Shenal Fernando Talks circulating regarding the potential appointment of Sri Lanka Podujana Peramuna (SLPP) Administrative Secretary Renuka Perera as the new Chairman of Milco (Pvt.) Ltd., were confirmed by the State Minister of Livestock, Farm Promotion, and Dairy and Egg Related Industries D.B. Herath.  Speaking to The Morning Business yesterday (19) Herath stated: “Yes we intend to appoint Renuka Perera as Chairman of Milco and a letter will be sent to the Ministry of Finance for such a purpose today.” In response to queries regarding the fate of the current Chairman, he stated that measures may be taken to transfer him to a different position. However, the State Minister didn’t specify whether that would be a position in a different organisation or within Milco itself. The current Chairman of Milco, Lasantha Wickramasinghe was one of few professionals who stepped forward to provide leadership to loss-making state institutions once President Gotabaya Rajapaksa came into power. Milco’s losses during the last three years of the Yahapalanaya regime amounted to over Rs. 2 billion but under Wickramasinghe it became a profit-making entity.  During the two year period between 2020 and 2021, Milco earned a profit of over Rs. 800 million. Furthermore, measures were taken to increase the price paid to dairy farmers by 30% for the first time since 2015. This decision to remove Wickramasinghe is puzzling considering the fact that he was successful in transforming a company that has been making losses for several years into a profitable institution.  This is the second time that the SLPP Administrative Secretary has been linked to the top job of a Government institution during the past two weeks.   During the previous week, sources disclosed that a letter was issued by the Finance Ministry removing Litro Gas Lanka Ltd. Chairman Theshara Jayasinghe from his position and that Perera would be appointed in his place. However, several hours later following the President’s inspection tour of the Litro Gas storage terminal in Kerawalapitiya, he had instructed the Finance Ministry and Treasury Secretary S.R. Attygalle to reinstate Jayasinghe to his original position. Wickramasinghe commenced his career as an executive in the production planning unit of Haycarb PLC.  He was employed for a period of around 12 years at FS R&D International (Pvt.) Ltd., a leading international information technology company, as an expert in the fields of supply chain management and tax reporting principles in various countries. After obtaining his first degree in Mathematics (Special) from the University of Colombo, Wickramasinghe, while being a full-time employee, achieved two master’s degrees in the fields of information technology and manufacturing management. He is currently reading for an MPhil/PhD in Economics (International Trade) from the University of Colombo.

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