Sri Lanka COPE reveals Rs110bn loss from 15 public institutions

parliament-1

Feb 08, 2017 (LBO) – Sri Lanka’s Parliamentary Committee on Public Enterprises today presented its third interim report to the Parliament.

The interim report which covers the activities from 01 May 2016 to 31 August 2016 is based on the inquiries carried out in 15 state-owned institutions.

COPE Chairman Sunil Handunnetti presenting the report before Parliament said that the total loss incurred by these 15 institutions was over 110 billion rupees.

“These are not losses, rather uneconomical and careless activities by institutions,” he said.

“I request to hold a debate on these reports and urge subject ministers to take necessary action into the losses.”

Handunnetti said RDA has carried out non-relevant and uneconomical activities that caused the institution about 57 billion rupee loss.

State Engineering Corp. incurred 2.9 billion rupee loss while Hambanthota Port incurred a 37 billion rupee loss for the period.

“Sooriyawewa International Cricket Stadium has lost an owner with a 5,300 million loss,” Handunnetti said.

“Ports Authority and Sri Lanka Cricket still discusses about who pays 5.3 billion rupees.”

The report includes inquiries conducted on Sathosa, RDA, Sri Lanka Insurance Corp., State Engineering Corp., TRC, Sri Lanka Cricket, SLRC, National Lotteries Board and Sustainability Energy Authority.

It has also carried out investigations into Sri Lanka Football Federation, Sri Lanka Ayurvedic Drugs Corporation, Maga Naguma, Sri Lanka Ports Authority, Kurunegala Plantations and ETF.

The COPE chaired by Handunnetti has so far investigated 60 institutions.