Bus Loss

Apr 15, 2010 (LBO) – Sri Lanka’s state bus service had lost 5,183 million rupees in 2009 despite getting another 4,135 million rupee handout in peoples’ money from the Treasury for operating ‘uneconomic routes’, the latest official data reveals. SLTB data showed that its workforce had increased to 35,895 in 2009 from 34,074 in 2008.

In 2008 government officials said 6,000 workers in the state bus service were excess.

Updated But the loss was lower than the 6.2 billion rupee deficit reported in 2008.

The Sri Lanka Transport Board (SLTB) has also started new services in the Northern and Eastern provinces, the Central Bank said in its annual report.

Revenue rose 18.5 percent to 17.02 billion rupees in 2009 from 14.3 billion rupees a year ago helped by a price increase but expenses had risen to 22.2 billion rupees from 20.6 billion rupees.

A new IT system had been installed to monitor progress, an incentive scheme launched for workers and management changes had been made. The Central Bank said 15 depots had reached breakeven level. The utility has 107 depots.

“This progressive step taken by the SLTB need to be continued to improve the financial position of the SLTB and to reduce the burden on the government