COPE report presented in parliament

1 December 2011 04:35 am - 3 - {{hitsCtrl.values.hits}}

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The Committee on Public Enterprises (COPE) which examined the financial performance at 229 state institutions today presented its report to Parliament highlighting, among others, that some Ministry secretaries had failed to deliver their duties as the chief accounting officers of their respective ministries in controlling financial irregularities, frauds and malpractices.

The COPE chaired by Senior Minister D.E.W. Gunasekara has identified 40 institutions as ones running at a loss at the moment. Among them are Sri Lanka Tea Board, Atomic Energy Authority, Ceylon Electricity Board, Industrial Development Board, Sri Lanka Mahaweli Authority, Ceylon Petroleum Corporation and Sri Lanka Cashew Corporation.

The National Gem and Jewellery Authority, State Mortgage and Investment Bank, Sri Lanka Telecom and Sri Lanka Rupavahini Corporation have been categorised as the four institutions with decreasing revenue. The rest of the institutions have been grouped as institutions with a stable financial position or institutions running at a break even. (Kelum Bandara and Yohan Perera)

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Comments - 3

Broker Thursday, 01 December 2011 10:30 AM

They are running at a loss.So what are going to do now?Will they be nationalised?

prem Thursday, 01 December 2011 11:33 AM

Are they looking into the posibliteies of restructuring them.

Calistus Jayatilleke Friday, 02 December 2011 06:39 AM

So, all these loss-making, unproductive and mismanaged entities will be taken over under the Expropriation Bill and handed over to other entrepreneurs?

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COPE report presented in parliament

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