Restructuring BCC - No cabinet approval yet -Media Minister

The Cabinet has not yet granted approval for the re-structuring of the BCC," Minister of Mass Media and Information Anura Priyadharshana Yapa told the media.

He said that though a memorandum has been submitted to the Cabinet regarding the issue, the cabinet is still considering the matter.

According to Minister Yapa, the BCC has been facing a critical debt crisis in the recent past. The total debt of the company is Rs. 850 million. In the meantime the company does not own enough capital to modernise the equipment to yield a sufficient production to increase profits. He said that the loss from the production of soap has been 33%.