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* Finance Minister says the 15 state enterprises cited in COPE report no longer incurring losses
Fri, Feb 10, 2017, 10:59 am SL Time, ColomboPage News Desk, Sri Lanka.

Feb 10, Colombo: Sri Lanka's Finance Minister Ravi Karunanayake has said that the 15 state-owned enterprises cited in the report of the parliamentary Committee on Public Enterprises as loss making institutions are no longer incurring losses.

Minister Karunanayake told parliament that all the 15 government institutions mentioned in the latest COPE report as collectively incurred losses amounting to Rs. 110 billion are no longer incurring losses.

He said the present government has succeeded in making the 15 state institutions viable entities and all 15 are making profits under the administration of the present Government.

The Minister pointed out that the losses mentioned in the COPE report occurred during 2012-2014 and the COPE Chairman should have clarified this fact in the report.

"Some media reports into the COPE findings were misleading. Newspapers had referred to it as a weakness of the present Government," the Minister said.

He said the report had cited old accounts of the 15 state institutions. "The inquiry on the CWE related to the accounts in 2012, the RDA in 2012-2013 and Sri Lanka Insurance in 2014. All the losses incurred were during the Mahinda Rajapaksa's term of office, the Minister pointed out.

Minister Karunanayake said that all these 15 institutions are profit earnings establishments under the present Government and called on the COPE Chairman to rectify this error.

The 15 institutions cited in the COPE report as made losses of Rs. 110 billion include the Corporative Wholesale Establishment (CWE), Road Development Authority (RDA), Sri Lanka Insurance Corporation, the State Engineering Corporation, the Telecommunication Regulation Commission, Sri Lanka Cricket, the Sri Lanka Rupavahini Corporation, the National Lotteries Board, Ceylon Electricity Board and Sustainable Energy Authority, the Sri Lanka Football Federation, the Sri Lanka Ayurvedic Medicine Corporation, four Maga Neguma Institutions under the Road Development Authority, the Sri Lanka Ports Authority, Kurunegala Plantation, and the Employees Trust Fund Board.


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