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Notes to the Financial Statements
 
   (b) Operating costs include Directors’ emoluments for the year 1999 of Rs. 41 million. This includes fees paid to NTT of Rs. 40         million for the secondment of expatriate personnel who are also Directors of SLTL.
   
   3. Staff Costs  
 
Group Company  
  ---------------- ---------------- ---------------- ----------------  
    1999 1998 1999 1998
    Rs.million Rs.million Rs.million Rs.million  
  ---------------- ---------------- ---------------- ----------------  
  Salaries, wages and allowances 2,084 1,891 2,084 1,891  
Social security contributions 229 197 229 197  
  ---------------- ---------------- ---------------- ----------------  
  2,313 2,088 2,313 2,088  
  ---------------- ---------------- ---------------- ----------------  
  4. Finance Costs  
             Group/Company  
  ---------------- ----------------  
  1999 1998  
  Rs.million Rs.million  
        ---------------- ----------------  
  Interest expense and related charges      
  Rupee loans (long-term)     1,260 1,101  
  Rupee loans (short-term)     174 21  
  Foreign currency loans     1,419 907  
  Net foreign exchange losses and other charges (note a)     950 561  
      ---------------- ----------------  
  Total interest payable     3,803 2,590  
  Interest capitalised     (490) (691)  
      ---------------- ----------------  
  Total interest charged     3,313 1,899  
        ---------------- ----------------  
  (a) Other charges are for interest on bank overdrafts and the guarantee premium paid for 150K projects.  
             
  5. Taxation          
  The charge for taxation is made up as follows:    
          Group/Company 
 
      ---------------- ----------------  
      1999 1998  
      Rs.million Rs.million  
      ---------------- ----------------  
  Current tax     - -  
  Deferred tax charge     1,056 1,260  
        ---------------- ----------------  
        1,056 1,260  
  No income tax is payable for the year in view of tax losses available for carry forward. At 31 December 1999, tax losses available for carry forward amounted to approximately Rs. 15,000 million   ---------------- ----------------  
     
     
     
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Notes to the Financial Statements                              
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