ECONOMYNEXT – Sri Lanka Transport Board (SLTB) has made a profit of 1.098 billion rupees in 2023, despite facing the threat of closure, Minister of Transport Bandula Gunawardena has said.
“At a time when there is an opinion that it should be privatised, we have promised to make Langama [SLTB] profit by 2025. Accordingly, by the end of 2023, Langama recorded a profit of 1098 million rupees,” Gunawardena said at an event to appoint new drivers and conductors.
The Ceylon Transport Board provides a “silent service” that no one can see, as it even operates on very difficult roads without the sole objective of profit, Gunawardena was quoted in a statement by the Department of Government Information.
The State transport service has faced criticism for delays in its implementation of digitalisation, and for its loss-making practices that make it unable to improve service.
According to the minister in January, bus drivers or conductors do not return the day’s total earnings to their respective depots, resulting in a loss of around 100,000 rupees a day per depot. “That’s about 10 million rupees in total losses a day,” said Gunawardena.
The minister estimated that annual losses incurred due to drivers not depositing their daily earnings amounted to around 3,650 million rupees. The government formally announced a digitalisation initiative for the SLTB in November 2023, to be implemented in 2024.
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Gunawardena told parliament in January that the SLTB was to unroll a card or QR code enabled payment system for State-run buses to mitigate around 10 million rupees in losses made a day.
“In about two months, we will be able to introduce a card or QR system,” he said at the time. Gunawardena said work to digitize the issuance of bus and train tickets is currently underway.
Digitalisation of Sri Lanka’s State-sector has been high on the agenda since the island nation went into its 17th programme with the International Monetary Fund (IMF). (Colombo/Mar7/2024)