Third report submitted by COPE reveals massive losses at state institutions

COLOMBO (News 1st):- The third report submitted by the Committee on Public Enterprises revealed that the Ceylon Petroleum Corporation incurred a loss of Rs. 105.2 billion during the last financial year. According to the report, during the past financial year, the National Water Supply and Drainage Board incurred a loss of Rs. 500 million and Elkaduwa Plantations Limited reported a loss of Rs. 30 million. Further, the COPE reports states that in 2018, the Pali and Buddhist University incurred losses of Rs. 2.1 million, and the Postgraduate Institute of Archaeology reported a loss of Rs 3.5 million. The financial statements of the Janatha Estates Development Board and the Mahaweli Authority are yet to submit their financial statements to the COPE.