Feb 09, 2018

Tea Shakthi dividends not paid for 16 yrs. Featured

The Tea Shakthi Fund has not made any payments in lieu of contributory dividends for 16 years, according to its Gampola area chief Karunaratne.

The Fund has more than 97,000 members islandwide.

All of them have bought shares worth from Rs. 10 to Rs. 50,000 in order to run the Tea Shakthi factories.

The Fund was started by the then plantation industries minister Ratnasiri Wickremanayake in 2002.

The small tea holders received dividends only for the 2001-02 period.

Meanwhile, 10 of the Tea Shakthi factories at Deniyaya, Mawarala, Walahanduwa, Deraniyagala, Elpitiya, Keppetipola, Passara, Kotmale and Mahaweli areas remain closed since 31 December last year.

As a result, tea smallholders are forced to sell their produce to private buyers at low prices.