The Colombo High Court has ordered to grant bail and release former minister Johnston Fernando from the case related to using employees of the Co-operative Wholesale Establishment (CWE) for election purposes.

On October 24, the court issued an arrest warrant for Johnston Fernando for failing to appear for the case hearing.

The Bribery Commission had filed a case on corruption against former minister Johnston Fernando, former CWE Chairman Eraj Fernando, and the former minister’s Private Secretary Raj Mohideen Mohammad Sakeer.

Johnston Fernando is accused of allegedly causing an unlawful loss of nearly Rs. 40 million to the government by employing 153 employees of Lanka Sathosa (CWE) for election work from 2010 -2014. (Newswire)

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The state-owned supermarket chain, ‘Lanka Sathosa’ has announced a reduction in the prices of two essential items in view of the Ramadan festival.

Accordingly, the price reduction is effective from today, April 10, 2024.

Following are the essential items for which prices have been reduced;  

• Sprats (Bulk 1kg):

Reduced by – Rs. 125

New price – Rs. 1,200

• Wheat Flour (Bulk 1kg):

Reduced by – Rs. 07

New price – Rs. 185 (Newswire)

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The state-owned supermarket chain, ‘Lanka Sathosa’ has announced a reduction in the price of imported eggs. 

According to the Chairman of Lanka Sathosa, the price of an imported egg will be reduced from Rs. 43 to Rs.36.

The prices will be effective at Lanka Sathosa outlets from midnight today (Apr 2). (NewsWire)

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The state-owned supermarket chain, ‘Lanka Sathosa’ has reduced the prices of four (04) essential food items. 

Issuing a statement, Lanka Sathosa said that the price revision is effective from today (Oct 26).

The reduced prices of the four essential food items are as follows:

• Samba Rice (1 kg) 

Reduce by – Rs. 06

New Price – Rs. 222

• Red Rice (1kg) 

Reduce by – Rs. 3

New Price – Rs. 169

• Chickpea (1 kg)

Reduce by – Rs. 06

New Price – Rs. 549

• Red Lentils (1 kg)

Reduced by – Rs. 05

New Price – Rs. 295. (NewsWire)

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State-owned supermarket chain ‘Lanka Sathosa’ has reduced the prices of six essential food items. 

Issuing a statement, Lanka Sathosa said that the price revision is effective from today (Sep 20).

The reduced prices of the six essential food items are as follows:

• Soya meat – 

Reduced by  -Rs.45

New price – Rs.580 per kilogram  

• Local Potatoes –

Reduced by – Rs.40

New price – Rs.290 per kilogram  

• Thai sprats –  

Reduced by – Rs.30

New price – Rs.1,100 per kilogram

• Garlic – 

Reduced by – Rs.30

New price – Rs.620 per kilogram  

• Big onions – 

Reduced by – Rs.15

New price – Rs.195 per kilogram  

• Red lentils – 

Reduced by – Rs.06

New price – Rs. 299 per kilogram (NewsWire)

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The state-owned supermarket chain, Lanka Sathosa has decided to reduce the prices of 09 essential food items.

Issuing a statement, Lanka Sathosa stated the price reduction will be effective from Thursday, August 17, 2023. 

Lanka Sathosa added that the decision to revise the prices of selected essential food items has been taken to ease the burden on consumers.

The goods and revised prices are as follows:

• LSL milk powder (400g) 

Reduced by – Rs. 29

New price – Rs. 970

• Thai sprats  

Reduced by – Rs. 15

New price – Rs.1160 per kilogram

• Brown sugar 

Reduced by – Rs.10

New price – Rs.350 per kilogram 

• Soya meat 

Reduced by – Rs.25

New price – Rs.625 per kilogram  

• Potatoes 

Reduced by – Rs.05

New price – Rs.325 per kilogram 

• Basmati rice

Reduced by – Rs.15

New price – Rs.675 per kilogram 

• Garlic 

Reduced by – Rs.05

New price – Rs.630 per kilogram 

• Red raw rice (Rathu Kekulu)

Reduced by – Rs.02

New price – Rs.147 per kilogram  

• Chickpeas 

Reduced by – Rs.05

New price – Rs.555 per kilogram  (NewsWire)

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Cabinet approval has been granted to restructure Sri Lanka’s largest state-owned retail chain, Lanka Sathosa.

The decision was announced by Cabinet Spokesman Minister Bandula Gunawardena during the weekly Cabinet press briefing held today. 

Minister Gunawardena stated that the decision has been taken as Lanka Sathosa has not provided a productive contribution to the economy.

Thereby, a proposal submitted by Minister for Trade, Commerce and Food Security Nalin Fernando to appoint a Steering and Monitoring Committee to carry out activities related to the restructuring of Sathosa has received Cabinet approval. (NewsWire)

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The Committee on Public Enterprises (COPE) has emphasized the need to prepare a business model suitable for Lanka Sathosa in order to make it profitable.

Lanka Sathosa Ltd was called before the COPECommittee on Thursday (22) under the chairmanship of MP (Prof.) Ranjith Bandara.

A statement from the Parliament said the following primary facts related to the company’s 2019 and 2020 Auditor General’s reports and current performance were investigated at the meeting. 

Instructions to prepare a comprehensive plan up until 2028

Attention was drawn towards the fact that a concrete plan for 2021-24 was in place but it was not approved by the Ministry. MP Bandara informed the officials to prepare a comprehensive plan up until 2028 and report on its activities within 2 months. He further instructed to prepare an action plan.

Attention was directed towards internal audit queries not being done properly

It was discussed that although there are 21 internal auditor staff, only 3 audit queries have been submitted for the year 2021 and none for the year 2022. Moreover, attention was drawn to the auditor’s difficulty in obtaining information regarding the company’s accounts. Accordingly, the Auditor General also informed that the Internal Audit Department should be notified in this regard through an internal circular.

A decision to discuss separately the loss of 6 billion rupees due to the importation of rice.

It was disclosed that during 2014-2015, there was a loss of 6 billion rupees due to the importation of rice through Lanka Sathosa. It was also discussed that the imported has been sold for animal feed due to expiry. A report has been prepared by the Auditor General regarding this incident and thus it was decided by the Committee to discuss this matter in the future.

MP Bandara also said that the loss of Lanka Sathosa in 2022 is close to 600 million. It was also discussed that the total loss by December 31st, 2021 is close to 15 billion.

The need to prepare a suitable business model for Lanka Sathosa emphasized

It was discussed in the Committee that instead of importing and selling goods, Lanka Sathosa y has missed the opportunity to sell goods at a lower price to the customer and gain more profit for the company by buying and selling goods from Pettah.

Furthermore, the officials explained the loss due to the delay in receiving money even though the goods are imported based on the policy decisions taken by the government.

MP Bandara emphasized the need to prepare a business model suitable for Sathosa. The Auditor General also pointed out the internal administrative weaknesses as well as the need to establish this institution under a business model that can make decisions independently without external interference.

The Committee also emphasized the need to attract more customers to Lanka Sathosa stores.

Instructions to carry out a re-evaluation in respect of the vacancies before filling them

It was revealed that there are 1123 employee vacancies in the institution and the Auditor General pointed out the need for a re-evaluation before filling those employee vacancies.

It was also decided to re-summon Lanka Sathosa on August 22.

Members of Parliament Mahindananda Aluthgamage, Dayasiri Jayasekara, Nimal Lanza, Jayantha Samaraweera, S. M. M. Muszhaaraff, S. M. Marikkar, Sanjeeva Edirimanna, Shanakiyan Rasamanickam, Madhura Withanage, and (Prof.) Charitha Herath were present at the Committee meeting. (NewsWire)

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