Annual Report 2008 - Ministry of Finance and Planning

3. Performance of Public Enterprises
144
Chart 3.2
Levy and Dividend from Public Enterprises
The levy and dividend income from Public Enterprises to the
Government amounted to Rs.7370 million in 2008 reflecting
a marginal decrease from 2007. This decrease is due to
several of the large public enterprises failing to generate
sufficient surpluses to contribute by way of either levy or
dividends to the Treasury as Return on Investment.
While the world economic conditions affected the
profitability of many of the large public enterprises such
as Ceylon Petroleum Corporation, Ceylon Electricity Board
and Sri Lanka Ports Authority, other PEs such as State
Pharmaceutical Corporation, State Printing Corporation
being profit making entities faced liquidity problems. This
resulted in many PE’s contributing less than budgeted to
the government coffers.
Out of 92 companies, on average, 75% of the companies
have not paid dividends during the last eight years which
is not an acceptable situation, given the large investments
that the Government has made.
Chart 3.3
Ministry of Finance and Planning Sri Lanka
Annual Report 2008