• A record revenue of Rs. 2 billion in 2022

The Committee on Public Enterprises (COPE) praised the state-owned Kalubowitiyana Tea Factory for its financial progress achieved in the recent past. 

The Kalubowitiyana Tea Factory Limited was summoned to the Committee on Public Enterprises (COPE) on 8 September chaired by Prof. Ranjith Bandara, Member of Parliament. The COPE Chair congratulated the institution on the progress it has made. 

The Auditor General's 2021, 2022 reports and current performance of that institution were examined at this Committee meeting. A group of officials including Ministry of Plantation Industry Secretary Janaka Dharmakirthi, Kalubowitiyana Tea Factory Limited Chairman Aminda Rodrigo were present at the Committee meeting.

Addressing the Committee, the Chairman of Kalubowitiyana Tea Factory Ltd. stated that in 2022, the highest income of the company was Rs.2 billion and a profit of Rs.214 million following the payment of tax was also recorded. He pointed out that there are four tea factories in Matara, Galle and Kandy districts and they have successfully overcome many challenges including obtaining tea leaves. The Chairman of the company also stated that the company has shown success by adhering to the existing rules of the Government as a public institution.

Although the company is small, the Auditor General said that this state-owned company has shown great progress in terms of accounts and financial statements. He appreciated the institution and mentioned that it has been a long time since he met such a progressive institution. The Auditor General pointed out that the recommendations given by COPE in 2013 have been followed to an extent of ninety-five percent and great progress has been achieved through high management skills. Here, attention was paid only to two audit questions.

Attention was directed on recovering the amount of 1.4 million rupees which is the deposit amount paid when acquiring the building where the head office was maintained by the company on a monthly rental basis. The officials stated that a legal case is being filed.

In 2003, even though the loan amount given to a state company at the interest rate of 22% was recovered, the interest was not charged. The officials also said that the institution has assured that it will pay the interest amount of Rs.51 million in installment basis.