CPC faced losses upto Rs 105 billion last year ; COPE report shows

The Ceylon Petroleum Corporation (CPC) has faced a loss of Rs 105 billion last year, the third report of the Committee on Public Enterprises (COPE) showed.

COPE Chairman Sunil Handunnetti yesterday (Oct 23) submitted its report to Parliament based on the investigations of 23 state institutions between March 1, 2018 to October 26, 2018. 

According to the report, the National Water Supply and Drainage Board had incurred losses amounting to Rs 505.4 million, while Elkaduwa Plantation Limited had suffered a loss of Rs 33.6 million.

Other key state bodies which had faced losses were the State Pharmaceutical Corporation, National Transport Commission, Road Development Authority, State Engineering Corporation, Lanka Electricity (Pvt) Ltd, Land Reform Commission, Ceylon Industrial Development Board, and Sri Lanka Football Federation.

COPE Chairman Handunnetti yesterday (Oct 23) asked the Speaker to allow officials from the Attorney General's Department to attend COPE sessions as observers to pave the way for them to directly initate legal action.

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