Lanka Sathosa also known as Sathosa is a wholesale and retail chain located in Sri Lanka. It is considered to be the largest state-owned retail chain in the country and was established in 2005.[1] Sathosa was incorporated as a state-owned enterprise under Companies Act no 7 of 2007 and it is regulated by the Ministry of Trade, Commerce & Food Security. The main function of Lanka Sathosa Limited is to set prices of many essential items in the domestic retail market.
Pasanda Yapa Abeywardena was appointed as the chairman of Lanka Sathosa in August 2022.[2] As of 2023, the retail chain expanded its branch of network beyond 441.[3] Lanka Sathosa has also guaranteed to sell essential items at concessionary prices during tough times including the coronavirus pandemic in the country.[4]
Controversiesedit
Johnston Fernando was arrested on 5 May 2015 in relation to the non-payment for goods worth more than 5 million rupees but was released on bail amounting to Rs. 25,000 and three sureties worth Rs. 2.5 million each. He is also being investigated on financial irregularities connected to Sathosa during his tenure as the Cooperatives and Internal Trade Minister.[5]
On 5 June 2019, the All-Island Canteen Owners' Association Chairman (AICOA) complained that Rishad Bathiudeen abused the Consumer Affairs Authority (CAA) to mistreat Sinhalese businessmen and also distributed food commodities unfit for human consumption through Lanka Sathosa.[6]
Referencesedit
^LBO (2017-05-26). "Sri Lanka to retain public ownership of Lanka Sathosa". Lanka Business Online. Retrieved 2020-03-24.
^"New Chairman appointed to Lanka Sathosa". Daily News. Retrieved 2020-03-24.
^"Package of essential food items to be provided at concessionary rates". Sri Lanka News - Newsfirst. 2020-03-23. Retrieved 2020-03-24.
^"UPDATE: Johnston Fernando released on bail - Newsfirst". Sri Lanka News - Newsfirst | News1st | newsfirst.lk | Breaking. Retrieved 2020-03-24.
^"Committee on Sally, Hizbullah, Rishad: First complaint lodged against Rishad Bathiudeen". www.dailymirror.lk. Retrieved 2020-03-24.
May 08, 2024
lanka, sathosa, also, known, sathosa, wholesale, retail, chain, located, lanka, considered, largest, state, owned, retail, chain, country, established, 2005, sathosa, incorporated, state, owned, enterprise, under, companies, 2007, regulated, ministry, trade, c. Lanka Sathosa also known as Sathosa is a wholesale and retail chain located in Sri Lanka It is considered to be the largest state owned retail chain in the country and was established in 2005 1 Sathosa was incorporated as a state owned enterprise under Companies Act no 7 of 2007 and it is regulated by the Ministry of Trade Commerce amp Food Security The main function of Lanka Sathosa Limited is to set prices of many essential items in the domestic retail market Lanka Sathosa LimitedCompany typeretail chain state owned companyIndustryRetail WholesaleFounded2005 19 years ago 2005 DefunctSeptember 30 2023 2023 09 30 HeadquartersSlave Island Colombo 02 Sri LankaNumber of locations441 2023 Area servedSri LankaKey peoplePasanda Yapa Abeywardene Chairman S S Senawatte Chief Executive OfficerProductsSupermarketHypermarketSuperstoreBrandsLSLRevenueRs 5 5 billion Per monthOwnerMinistry of Trade Commerce and Food SecurityNumber of employees4 000 2023 Websitewww lankasathosa org Pasanda Yapa Abeywardena was appointed as the chairman of Lanka Sathosa in August 2022 2 As of 2023 the retail chain expanded its branch of network beyond 441 3 Lanka Sathosa has also guaranteed to sell essential items at concessionary prices during tough times including the coronavirus pandemic in the country 4 Controversies editJohnston Fernando was arrested on 5 May 2015 in relation to the non payment for goods worth more than 5 million rupees but was released on bail amounting to Rs 25 000 and three sureties worth Rs 2 5 million each He is also being investigated on financial irregularities connected to Sathosa during his tenure as the Cooperatives and Internal Trade Minister 5 On 5 June 2019 the All Island Canteen Owners Association Chairman AICOA complained that Rishad Bathiudeen abused the Consumer Affairs Authority CAA to mistreat Sinhalese businessmen and also distributed food commodities unfit for human consumption through Lanka Sathosa 6 References edit LBO 2017 05 26 Sri Lanka to retain public ownership of Lanka Sathosa Lanka Business Online Retrieved 2020 03 24 New Chairman appointed to Lanka Sathosa Daily News Retrieved 2020 03 24 Sri Lanka State owned Lanka Sathosa retail network expands beyond 400 outlets www colombopage com Retrieved 2020 03 24 Package of essential food items to be provided at concessionary rates Sri Lanka News Newsfirst 2020 03 23 Retrieved 2020 03 24 UPDATE Johnston Fernando released on bail Newsfirst Sri Lanka News Newsfirst News1st newsfirst lk Breaking Retrieved 2020 03 24 Committee on Sally Hizbullah Rishad First complaint lodged against Rishad Bathiudeen www dailymirror lk Retrieved 2020 03 24 Retrieved from https en wikipedia org w index php title Lanka Sathosa amp oldid 1217190245, wikipedia, wiki, book, books, library,
