Sep 02, 2011 (LBO) – The state-run Sri Lanka Ports Authority (SLPA) is to provide medical insurance for its employees with the cost borne by the authority which is hugely overstaffed and lost money last year. The SLPA has signed a deal with the National Insurance Trust Fund (NITF) to provide a “comprehensive Medical Insurance Scheme” for its permanent employees from September 01, 2011, a statement said.
“The annual premium for each permanent employee will be paid by the SLPA and no charge will be levied from an employee for obtaining the membership of this medical scheme,” it said.
“In addition, if an employee wishes to introduce his or her spouse or children to this scheme, the SLPA will make arrangements to pay the total premium to the NITF on the basis that the employee agrees to deduct the premium from his or her salary.”
The SLPA, which runs the island’s ports, lost 1.1 billion rupees in 2010 partly due foreign exchange losses on Yen loans and a rising wage bill despite revenues rising 19 percent to 28.2 billion rupees. Its operating costs rose to 25.1 billion rupees up from 21.7 billion with wage costs rising from 12.5 billion rupees to 14.0 billion, according to a finance ministry report.