Bus Bailout

Jan 20, 2013 (LBO) - Sri Lanka Transport Board, a loss-making state bus utility has been given a 2.
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8 billion rupee bailout from tax payer money, the state information office said.
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In 2011 the SLTB had being given a 3.939 billion rupee subsidy on top of a 4.
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6 billion rupee cash handout the year earlier, according to finance ministry data.
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The cabinet had approved a proposal by transport minister Kumar Welgama to give the cash inejection.

The money will be used to give a salary increase and allowance to SLTB employees.

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SLTB was built by expropriating bus companies owned by citizens sometime after gaining self-determination from British rule.


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