Rs. 2.7 Billion Supplementary Estimate presented to Parliament

Rs. 2.7 Billion Supplementary Estimate presented to Parliament

Written by Staff Writer

08 Aug, 2018 | 12:34 am

COLOMBO (News 1st) – A supplementary estimate for Rs. 27,176 Million was presented to Parliament today (August 07).

Rs. 9,900 million has been allocated for Samurdhi relief funds.

Another Rs. 5,246 million has been allocated to the Sri Lanka Transport Board (SLTB), in order to provide season tickets for schools and higher education institutes and for staff employed along routes that are not profitable.

An estimate of Rs. 4,244 million has been allocated for the 3rd phase of the Southern Expressway. Moreover, Rs. 860 million has been allocated for the third phase of the Colombo Outer Circular Highway between Kerawalapitiya and Kadawatha.

Another Rs. 853 million has been allocated to fulfill the conditions of the Hambantota Port Agreement.

The Supplementary Estimate further includes allocations for debt repayments, fund allocations for the Suva Seriya Foundation, administrative expenses to enroll graduates, purchasing of a vehicle, and funding the overseas travel of the Minister of Social Welfare and Primary Industries.

According to the Auditor General the immediate loss from the 1st a 2nd Bond Scams is estimated to be over Rs. 1.3 Billion. As the bond matures in 30 years, it is still not possible to ascertain the total loss. The Employees Provident Fund incurred a loss of over Rs. 8 billion from the Bond Scam. Perpetual Treasuries Ltd made the phenomenal Profits to the tune of over Rs. 11 Billion in these Bond Scams.

If the law was enforced to punish the wrong-doers and if the monies were recovered in a proper manner, would there be any need to use public funds via a supplementary estimate?

If there was proper management in the 10 Billion Rupees given to a company of a Director of the People’s Bank, would there be any need to time and time again use public funds via a supplementary estimate?

If proper action was taken to prevent the looting of public funds from the Expressway Ways, in the provision of Tab Computers, in the importation of dairy heifers, the importation of luxury vehicles for MPs and Minister as well as the corruption at loss-making SOEs like Sri Lankan Airlines, would there be any requirement to use public funds as supplementary estimates ?


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