June 17, 2009 (LBO) – Sections of Sri Lanka’s bloated public sector are stealing peoples’ money in the same corrupt manner as high profile private sector scams, a senior minister said. “More than 140 state owned institutions are running at losses and have to be supported by the Treasury. Some workers don’t even come to work, deputy finance minister Sarath Amunugama said.
This is more corrupt than Sakvithi, as both steal from the public.
“The real story for journalist is state sector corruption and inefficiency.
Sakvithi Construction, an unregulated firm that took in deposits from hundreds of people collapsed last year with the owner fleeing the country.
Amunugama, a onetime finance minister and now deputy finance minister, was speaking at the inauguration of a program for financial journalism training sponsored by Sri Lanka’s Securities and Exchange Commission.
Amunugama said employees Sri Lankan Insurance Corporation and Sri Lanka Transport Board had come back to work despite being retired and given golden handshakes.
Sri Lanka has a bloated public sector, which has ballooned in recent years.
While many public sector workers are twiddling