Laksala transformed into a profit generating enterprise – Bathiudeen
August 16, 2017 04:40 pm
The Minister of Industry and Commerce Rishad Bathiudeen stated that Laksala, which incurred 21 million rupees in losses for the year 2015, has successfully been able to enjoy 4 million rupees in profits for the year 2016.
Speaking at the opening of the newly launched supermarket goods section at the Laksala main store at Thummulla, Minister Bathiudeen stated that when the new government was elected, institutions like Sathosa and Laksala were running at massive losses. As Minister of Industry and Commerce, he admitted that he felt some displeasure to witness such institutions running at a loss. He however stated that he had faith that under the new government he would be able to transform such entities into profit generating ventures which he successfully accomplished.
The Minister also stated that Laksala was able to win the Presidential Export Awards for small and medium scale businesses due to the prompt employment of skilled professionals to Laksala to drive its new train of thought.
He also stated that Laksala has been able to earn large profits through the sale of Local handcrafts to local and foreign markets. He mentioned that Laksala provides a platform for local craftsmen to display the indigenous culture of Sri Lanka on a global stage.
According to the Minister today, Laksala produces 8000 differing products and has increased the registered Laksala product suppliers from 6000 to 8760 during the last calendar year. He also stated that Laksala earned a profit of Rs.788 million in 2016 and currently enjoys an income of Rs.381 million for the first two quarters of 2017.