Saturday, 10 May 2025
Rs. 90 m loss since Navy took over Avant Garde functions

Rs. 90 m loss since Navy took over Avant Garde functions Featured

The state has lost Rs. 90 million of foreign exchange in the past one month due to the Navy’s having taking over the functions of Avant Garde firm, it is claimed.

The Navy has said it earned Rs. 220 million during that period by carrying out those functions and credited the money to the consolidated fund.

When contacted, a spokesman for Avant Garde said they had earned Rs. 310 million a month.

Since the Navy took over its functions on November 13, the income has been on the downhill, he said.

The Navy carried out 652 operations during the one month at Galle and Colombo ports.

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