-also received $1.2 billion gov’t subvention
In 2004, government holding company National Industrial and Commercial Investments Limited (NICIL) recorded revenues of $26.9 billion and profit after taxes of $1.6 billion, compared to revenue of $30 billion and profit of $12.5 billion in 2003.
Despite its substantial income, in 2004 the company also received a subvention of $1.2 billion from the government. The majority of its revenue that year ($23.5 billion) came from the sale of goods, of which $15.5 billion were from the sale of fuel and lubricants. In 2003, revenue from the sale of goods amounted to $14.5 billion while $11.3 billion were earned
