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State Institutions COPE probe finds Rs.100 Bn discrepancies

22 February 2020 12:01 am - 0     - {{hitsCtrl.values.hits}}

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By Yohan Perera and Ajith Siriwardana   

Parliamentary Committee on Public Enterprises (COPE) has looked into discrepancies in State institutions during the 4th session of the 8th Parliament amounting to more than Rs.100 billion, COPE’s report tabled this week revealed.   

According to the report the Ceylon Electricity Board (CEB) had bought a huge amount of power  outside the stipulated power generation plan from 2016 to 2019. The worth of power purchased during this time has been Rs.52,230 million (Rs.52.2 billion) during this time. Power has been purchased from ACL power plant at a price which was Rs.300 million more than the amount prescribed by the assessor.   


COPE has also looked into the high non performing loans of People’s Bank which has been Rs 37,727 million (Rs.37.7 billion).   


The committee also looked into the air time debt balance of Rs.72.2 million at Sri Lanka Rupavahini Corporation, Rs 3.5 billion spent on Rata Wiru fund without any result and spending of Rs 35.3 billion by National savings Bank on a new building which has stopped half way are the other discrepancies which the COPE had come across during the fourth session.   

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