State institutions incur staggering loses

COLOMBO (News 1st) - The Committee On Public Enterprises or the COPE presented another report in parliament today (January 24). It compiled information relating to the performance of 17 state institutions, including Sri Lankan Airlines between the time frame from the 1st of July to the 30th September 2017. Sunil Handunnetti, the chairperson of COPE said that SriLankan Airlines incurred losses of Rs.32,357 million in 2014, Rs.16,000 million in 2015, Rs. 12,000 million in 2016 and Rs. 40 billion during a nine-month period that ended on the 31st of December 2018.  Handunetti further noted that many more state institutions including the paddy marketing board are running at a loss. He strongly recommended that the ministers and officials of relevant ministries must take immediate actions regarding these losses. Handunnetti mentioned that officials are worried about how to increase the daily wages of the estate workers to a minimum of Rs.1000 and to mitigate the Sena caterpillar epidemic that has destroyed local cultivation in a backdrop where millions are wasted on state institutions. Sunil Handunnetti added that the report also proposes the privileges act to be amended, the rights and powers included in the privileges act to be strengthened and the COPE meetings to be opened to the media.