COPE’s fourth report on public institutions’ financial losses presented to parliament

COPE’s fourth report on public institutions’ financial losses presented to parliament

COPE’s fourth report on public institutions’ financial losses presented to parliament

Written by Keshala Dias

20 Oct, 2017 | 9:48 pm

The fourth report of the Committee on Public Enterprises on financial losses incurred by 15 public institutions,, and the breach of conduct by top officials, was presented to Parliament by Chairman of COPE Sunil Handunnetti.
The institutions examined by COPE are : The  National Transport Commission, Sri Lanka Tourism Development Authority , Airport and Aviation (Sri Lanka) Ltd., Cooperative Wholesale Establishment and Lanka Sathosa, Central Environmental Authority, Sri Lanka Ayurvedic Drugs Corporation, Ceylon Petroleum Corporation, Lanka Mineral Sands Ltd., Geological Survey and Mines Bureau, Hingurana Sugar Company Ltd., Ceylon Fisheries Corporation, Independent Television Network, University Grants Commission, People’s Bank and National Lotteries Board.
 
COPE had observed that the National Transport Commission had spent a sum of Rs. 1,705,343 to print the stickers of destination boards and details of emergency telephone numbers on three occasions in 2015 without following the proper procurement procedure.
 
COPE had identified six key issues relating to the NTC.
COPE states the Tourist Development Authority of Sri Lanka had made a payment of Rs 7,382,305 as part of the interest of a loan of Rs 100 million issued by a state bank.
 
COPE says the Co-operative Wholesale Establishment and Lanka Sathosa incurred a loss amounting to Rs.39 million in 2014 by purchasing 14,000 carom boards and 11,000 droughts / checkers boards.
 
The detailed report on the above matter has not been had not been provided to the Committee by May 25, 2015.

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