Coal transaction is profitable: Min. Siyambalapitiya in parliament

Coal transaction is profitable: Min. Siyambalapitiya in parliament

Coal transaction is profitable: Min. Siyambalapitiya in parliament

Written by Staff Writer

10 Aug, 2016 | 9:07 pm

Minister of Power and Renewable Energy Ranjith Siyambalapitiya informed parliament that no loss has been incurred through the controversial coal transaction. The minister made this statement while presenting the report compiled by the three-member committee appointed by him to look into the matter.

A committee headed by Professor K.K.Y.W. Perera was appointed by Minister Siyambalapitiya to look into the allegation that a large scam had taken place during the purchasing of coal in the year 2015 and 2016. The committee has presented eight conclusions with regard to the matter.

The conclusion of the report reads that Sri Lanka had saved a sum of 7.5 million US Dollars through a spot tender procedure in the purchasing of coal when compared to long term tenders.

The committee says that that the mix of procurement through long-term and spot tenders is beneficial when purchasing coal.Amidst this backdrop there appears to be a delay in the Auditor General’s report on the coal transaction.

This is due to a difficulty in obtaining the required documents from the relevant institutions necessary for the audit into the purchasing of coal since 2009. The Auditor General’s Department said that due to the delay, a report on this matter cannot be presented to the Committee on Public Enterprises the day after tomorrow.

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