STC posts Rs.1.5 bn profit last year | Daily News

STC posts Rs.1.5 bn profit last year

The State Timber Corporation (STC), one of the leading state-owned enterprises in Sri Lanka made a huge profit of Rs. 1.5 billion last year.

State Timber Corporation officials say that despite the COVID-19 pandemic, the Corporation was able to make such a huge profit because of its well-managed financial management.

Agriculture, Wildlife and Wildlife Conservation Minister Mahinda Amaraweera presided over a Progress Review Meeting held at the State Timber Corporation Auditorium on Tuesday. It was revealed that the amount of financial assets currently held by the State Timber Corporation of Sri Lanka is at a very high level. The State Timber Corporation contributes Rs. 2000 million to the Government every year to the Treasury and will continue to do so this year.

The Corporation manufactures high quality wooden furniture, and has about 20 containers of ebony timber at present.

Minister Amaraweera instructed officials to start a programme to manufacture and sell wood products with ebony and timber to foreign countries which could bring us valuable foreign exchange.

The Minister further stated that there are 34 centres belonging to the State Timber Corporation islandwide and the Ministry of Agriculture can provide the necessary agro-technical assistance for the cultivation of food crops by deploying staff on all those lands.

The Minister also spoke on the economic and food crisis situation in the country. Secretary to the Ministry of WildLife and Forest Conservation Chandra Herath and State Timber Corporation Chairman S.M. Karunaratne were also present.



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