Annual Report 2008 - Ministry of Finance and Planning

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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
3. Performance of Public Enterprises 145 Table 3.4 Levy/Dividend Income from Public Enterprises Rs mn Institutions 2008 2007 2006 2005 2004 2003 Levy Telecommunication Regulatory Commission. 3150 2250 2050 1150 400 450 State Timber Corporation 75 150 75 50 37 37 State Pharmaceuticals Corp. 30 20 20 74 SL Export Credit Insurance Corporation 25 16 - - - - State Pharmaceutical Manu. Corp. 10 10 5 5 10 - Sri Lanka Ports Authority 0 65 115 50 95 - State Mortgage & Investment Bank 0 25 116 135 50 100 National Lotteries Board - - - - 127 Other 3 13 38 11.5 22 5 Dividends Sri Lanka Telecom 893 893 670 446.702 402 482 Bank of Ceylon 1046 846 1173 1150 763 675 National Savings Bank 1060 1060 810 1310 1060 1812 People’s Bank 816 1416 668 818 756 572 De La Rue Lanka (Pvt) Ltd 100 100 152 120 Lanka Mineral Sands Ltd. 34 50 98 132 9 14 Lanka Industrial Estates 31.2 62 19.5 19.5 37 2 Ceylon Petroleum Storage Terminal - 437.5 125 - - - Airport & Aviation Sri Lanka Ltd - 100 280 - - Lanka Electricity Company - 75 99.76 74.82 - - Sri Lankan Air Lines - - 788 - 656 263 Other 97 93 81 70 24 781 Total 7370 7682 6951 5929 4448 5313 Source: Department of Treasury Operation. Ministry of Finance and Planning Sri Lanka Annual Report 2008
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2008 Annual Report Ministry of Fina
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2 This Report is Published in terms
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4 Heads of Treasury Departments (as
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6 Heads of Statutory Boards / State
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8 Contents Chapter 1 - Macro Econom
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10 Contents Contd. Table 3.9 - Key
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12 Contents Contd. Table 7.8 - Valu
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14 Contents Contd. Chart 3.1 - Accu
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16 Sri Lanka at a Glance - 2008 KEY
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18 Sri Lanka at a Glance - 2008 Con
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1. Macro Economic Perspectives 20 E
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1. Macro Economic Perspectives 22 T
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1. Macro Economic Perspectives 24 O
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1. Macro Economic Perspectives 32 M
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1. Macro Economic Perspectives 36 W
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1. Macro Economic Perspectives 38 B
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1. Macro Economic Perspectives 40 B
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1. Macro Economic Perspectives 42 L
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1. Macro Economic Perspectives 44 i
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2. Fiscal Developments - 2008 46 An
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2. Fiscal Developments - 2008 48 Ta
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2. Fiscal Developments - 2008 50 Go
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4. Reform Initiatives 194 Table 4.8
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4. Reform Initiatives 196 grounds,
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5. Foreign Financing of the Budget
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6. A Sectoral Perspective 236 An Ov
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6. A Sectoral Perspective 254 Box 6
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7. Development Finance 260 An Overv
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7. Development Finance 270 Chart 7.
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7. Development Finance 278 SMERDP N
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7. Development Finance 280 (RFSDP)
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7. Development Finance 282 • Pape
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8. Financial Statements - 2008 286
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328 8. Financial Statements - 2008
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330 8. Financial Statements - 2008
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Annual Report 2008 - Ministry of Finance and Planning

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