Government, April 5 -- owned Janatha Estates Development Board" (JEDB) which was making huge losses and depended on government Treasury handouts for many years has made a dramatic U-turn and is on its way to break even and make profits from this year.

JEDB which was set up in 1976 after the Land Reform act to manage lands taken over by the government posted a net loss of Rs. 757 million and also received a hand out of Rs. 450 million from the Treasury to shoulder the burden for paying salaries in 2019.

However, with prudent economic management systems and initiating several other initiatives JEDB was successful in moving out of taking the 'Treasury dole' of Rs. 450 million for staff from the in 2020.

"In addition, we have reduced our e...