- IDB Marketing Director testifies before PCoI
- IDB supplied Brass, Copper to ‘Colossus’ at concessionary rates
- Colossus’ procured 35% of scrap brass from 2017-2019
- ‘Colossus’ turnover exceeded Rs. 600 million in 2018
By Yoshitha Perera
Industrial Development Board (IDB) supplied Brass and Copper to ‘Colossus’, a company owned by Easter Sunday suicide bomber Insaf Ahmad Ibrahim during the period between 2017 and 2019, although the company had failed to operate within the given criteria, Sarath Udayasiri, Marketing Director of IDB informed the PCoI probing Easter Sunday attacks yesterday.
Testifying before the Commission, Udayasiri said that the IDB had supplied Brass and Copper to ‘Colossus’ at concessionary rates. He told the Commission that ‘Colossus’ procured a considerable amount of scrap brass between 2017 and 2019, and this had affected the other small and medium scale enterprises. “Colossus received 35% out of the total Copper and Brass that were accumulated between 2017 and 2019,” the witness said.
Udayasiri added that by the year 2018, the turnover of ‘Colossus’ exceeded Rs. 600 million. “So it was no longer a medium scale company. In 2017, it was registered as one,” the witness said. The witness further said when ‘Colossus’ had been registered in 2017 and it also did not have the certification of the Grama Niladhari of the area where the factory was located.
- Procured large amount of scrap brass between 2017 and 2019
- the company had failed to operate within the given criteria