Colombo: Opposition Leader Sajith Premadasa has raised concerns over the critical financial state of Sri Lanka’s two largest sugar factories – Pelwatte and Sevanagala – and called on the government to take immediate action to rescue them.
Speaking to the media, Premadasa said both factories have had to rely on loans from state-owned banks just to pay their staff.
“Pelwatte has not paid its employees’ provident fund contributions for the past nine months. The total unpaid amount has crossed Rs. 300 million,” he stated. “To keep operations running, the factory has borrowed Rs. 500 million from the Bank of Ceylon.”
Turning to the second major sugar producer, he added, “Sevanagala owes Rs. 150 million in unpaid provident fund contributions and an additional Rs. 400 million in unpaid VAT to the government. It has taken a loan of Rs. 200 million from the Bank of Ceylon.”
Premadasa warned that both factories are facing a serious financial crisis and urged the government to intervene without delay.
