The Development Lotteries Board (DLB) has increased its contributions to the President’s Fund and the government after achieving its highest-ever profit in its 40-year history.
According to the President’s Media Division (PMD), this marked a significant milestone as the DLB recorded a profit margin of 32% for the fiscal year 2022-2023, double the previous year’s figure.
Consequently, contributions to both the President’s Fund and the government saw notable increases, with a 13% rise for the former, surpassing the target, and a 6% increase for the latter.
Chairman and CEO of the Development Lotteries Board, Ajith Gunaratne Narangala attributed this success to strategic measures aimed at mitigating the country’s economic challenges, with special guidance from President Ranil Wickremesinghe, who also serves as the Minister of Finance.
The chairman mentioned that measures have been implemented to boost the prize money for both regular and newly introduced special lottery tickets of the Development Lotteries Board.
Additionally, the board has initiated the introduction of lottery tickets via digital technology, aiming to provide consumers in the country with a novel experience.
A percentage of the proceeds have also been earmarked for education and healthcare initiatives within the country. (NewsWire)