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Total expenditure for construction of MRIA not utilised effectively: National Audit Office
The National Audit Office has revealed that the total expenditure of USD 247.7 million (equivalent to Rs. 36,564 million), including price increases and variances, for the construction of the Mattala Rajapaksa International Airport (MRIA) has not been utilised effectively.
In its 2023 Annual Report, the National Audit Office noted that the airport incurred an operating cost of Rs. 2,412.9 million against an operating income of Rs. 288 million for the year 2023.
The operating loss (before taxes) amounted to Rs. 2,124.1 million, but a net profit after tax of Rs. 926.6 million was recorded, primarily due to foreign exchange gains.
However, the cumulative net loss after tax from 2018 to 2023 stood at a staggering Rs. 38,489 million. Despite an anticipated annual passenger capacity of one million, the total number of passengers handled over the past six years was only 190,750, with just 2,182 flights recorded during the same period.
Additionally, the company has been paying Rs. 1,590 million annually in loan interest for the USD 190 million foreign loan initially obtained to fund the airport's construction.
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