The two state-owned sugar producers reversed their losses and have now earned a combined Rs. 7.6 billion profit, reports said.
Sevanagala and Pelwatte companies lost Rs. 1.7 billion in 2020.
Pelwatte’s gains at present stand at Rs. 5.8 billion, followed by Rs. 1.8 billion for Sevanagala.
Their profits are mainly attributed to an import ban on ethanol, with alcohol-makers having to buy ethanol from the two local producers.
Trade union affiliates of both Sevanagala and Pelwatte say it is unfair to privatize the sugar companies as they now earn profits.
