Lose Making Sathosa , Sugar , Luxsala & STC  Now Converted  Into Profit Making Ventures

Sathosa , Sugar , Luxsala and STC   organizations, which were incurring loss  had been converted into profit making ventures  after Minister of Industry  and Commerce  Rishad Bathiudeen took  over them . He revealed these in a press conference held today at Sathosa Head Office, Vauxhall Street.

Further he said,  price of rice increased  due to the drought experienced. On advise given by the President, a project planned and implemented to sell  rice and other essential goods at low prices through 370 Sathosa branches. This project proved successful.

In order to arrest  rice shortage situation, steps have been taken to import 1 lakh Metric  Ton of rice.  Retail and whole sale distribution is  being carried out through Sathosa and mobile Sathosa units  using 30 lorries. Within a few weeks this will be extended to other parts of the country using 100 lorries.  Apart from this,  steps have been taken to import 2 lakhs metric ton of rice shortly.

While selling  the essential goods  at  normal prices in the market, negotiation have been under taken with the Cargills, Arpico and with rice traders in the market  to sell at normal prices.

 As from tomorrow(2) registration of persons willing to  register themselves as Sathosa Franchise agents will be done. Through this project essential goods could be made available at normal prices  to the public.

When we took over Sathosa,   there was  only 300 branches, which has now been increased to 370 . Within next two weeks further 30 branches  will be opened  making the  total to 400. Target is to increase the Sathosa branches to 500 at the end of the year.

As from today prices of Ponni Samba will be reduced and sold  from  Rs 80 to Rs 78 and Dhal  from Rs 150 to Rs 148  respectively.

Having considered the increase in coconut prices, Sathosa purchased  coconuts at Rs 65  and sold to consumers at the same price without making any profit.

Sathosa Chairman D.M.K. B. Tennakoon , Additional  Ministry Secretary  Seetha,  Industry and Commerce Director Indika and other officers  were present at the press conference .