Sathosa to open 5 mega stores, 10 regular stores, in first quarter of 2024

4 January 2024 10:00 am Views - 1101

Colombo, Jan 4 (Daily Mirror) - Trade, Commerce and Food Security Minister Nalin Fernando said yesterday that Lanka Sathosa aims to open five new mega stores and ten regular Lanka Sathosa stores, in the first quarter of 2024.

Addressing a media conference at the Presidential Media Center (PMC), he said that by year-end, the plan is to expand the Lanka Sathosa outlet network to 500 outlets. 

"Expanding the network to 500 outlets serves the primary goal of enabling consumers to purchase goods at government-subsidized prices without shortages," he said. 

In 2024, the goal is to increase the total income of Lanka Sathosa to nearly Rs. 70 billion, achieving an operating profit of nearly Rs. 1.5 billion. The company aims to secure a net profit of Rs. 500 million amidst the economic challenges.

A new programme for the Consumer Affairs Authority is anticipated in 2024, aiming to enhance consumer rights. The Department of Measurement Units, Standards, and Services will be fully computerized to meet people's needs in the first four months of the year," the Minister added.