Tue, 18 Jan 2022 Today's Paper

Losses at State institutions exceed Rs.50 bn last year: Speaker

19 June 2018 04:55 am - 7     - {{hitsCtrl.values.hits}}

A A A

According to Finance Ministry reports, the losses incurred by State institutions last year had exceeded Rs.50 billion, Speaker Karu Jayasuriya said at a workshop organized by the Committee on Public Accounts (COPA) yesterday.

He said more than 40 per cent of the funds belonging to State institutions were wasted each year.

“These funds if saved could be utilized for the betterment of the people and for development work,” the Speaker said. “Parliament has been able to carry out investigations and monitor State institutions to the desired level. There are more than 837 State institutions that were investigated by COPA last year. All these institutions have been monitored by COPA, Auditor General and Parliament. Only around 20 or maximum 100 institutions were monitored by COPA during the past. Currently, there is satisfactory progress by COPA.”

He said State institutions were no longer able to spend public funds according to its whims and fancies because they were being monitored by new systems put into place by the committees such as COPA and COPE.

“COPA's main objective is to avoid misuse of funds, the wastage and the eradication of corruption. Earlier one could find out about corruption only when a complaint or a petition was filed by someone but it is not the case now and State institutions are constantly monitored. You don’t have to go behind thieves now with the process carried out by the House to monitor institutions as it is possible to uncover a theft, a weakness and shortcomings could be overcome,” the Speaker said.

He said the Right to Information Act (RTI) also helped maintain transparency in public spending. (Yohan Perera and Ajith Siriwardana)

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 7

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.
  • Maru Tuesday, 19 June 2018 06:56 AM

    Well its simple and easy! We have institutes that protest and complain about everything possible. Unfortunately our people have a negative mind set about life and their ways. They never learn from their mistakes, and want a hand out every way possible.This has been talked about for years. There is only one possible thing to do if its not profitable! Start sacking a few seniors, this will set the tone. And privatise most institutes like other countires do around the world.

    Dils Tuesday, 19 June 2018 07:08 AM

    Job well done by your government... economy in disaster promises not met nothing achieved

    Premalal Tuesday, 19 June 2018 11:35 AM

    Now that he announced the devastating news he can claim a clear concience and duty well performed.

    Leo Tuesday, 19 June 2018 08:10 AM

    A total of 50BN peanuts compared to the money spent for pent house apartments and bond scam yet no one refers to this as corruption.

    Roy Tuesday, 19 June 2018 08:11 AM

    Increase Tax easy solution give more to politicians

    ATP Tuesday, 19 June 2018 08:16 AM

    Time to recruit through advertisement instead of appointing, capable heads out of the political influence/friends of President/PM/MP to the los making institutions and hold the Minister in-charge of the institute for the losses and remove him from the post too.Sri Lanka cannot suffer any more due to morons running vital government institutions.

    mnsmart Tuesday, 19 June 2018 08:16 AM

    who is responsible for the breakdown of services?


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.