The Minister pointed out that Lak Sathosa has got into a dept trap of Rs 10 billion due to Rajapaksa administration's corrupt policies and the suppliers are yet to be paid Rs 3 billion. According to Finance Minister Ravi Karunanayake the previous regime had purchased a kilo of rice for Rs 85 and sold it for Rs 50 and thereby incurring a loss of Rs 4,000 million and the total loss of Lak Sathosa stands at Rs 13,800 million.
Minister Bathiudeen further said that Lak Sathosa will undergo a total restructure under the stewardship of KPMG with government funds and function with a new look from July 7.
He also added that fifty new Laka Sathosa outlets are expected to be added in future.
