Srilanka, March 28 -- Milco Chairman Hemajeeva Gotabaya stated that it will be challenging to provide bonuses to employees this year due to the financial difficulties faced by the company.

He made this announcement during a media briefing at the Government Information Department yesterday.

The Chairman explained that, as per circulars from the Treasury, loss-making institutions are not eligible to offer bonuses. Milco reported an operating loss of Rs. 501 million in 2023, following a loss of Rs. 34 million in the previous year (2024).

He also highlighted that Milco and the National Livestock Development Board were facing potential liquidation and may be handed over to a joint venture between an Indian company and a local partner.

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