This is the other Financial Committee in the Parliament which consists of twelve members nominated by the Committee of Selection. The duty of this Committee is to examine the accounts of the Public Corporations and of any Business Undertaking vested in the Government.
These two Committees have the power to summon before them and question any person, call for and examine any paper, book, record or other documents and to have access to stores and property.
While the Public Accounts Committee exercises oversight in the financial performance of Government Institutions, the Committee on Public Enterprises has been established on 21.06.1979 to ensure the observance of financial discipline in Public Corporations and other Semi Governmental bodies in which the Government has a financial stake.
The Committee on Public Enterprises, which consists of 31 Members reflecting the party composition in the House, is established under the Standing Order 126 at the beginning of each Parliamentary Session and the Chairman is elected by the Members of the Committee at its first session. Its quorum is four.
The duty of the Committee is to report to Parliament on accounts examined, budgets and estimates, financial procedures, performance and management of Corporations and other Government Business Undertakings.
The accounts of these organizations are audited by the Auditor-General and form the basis of the investigations of the Committee. It has the power to summon the relevant officials and such other people as it thinks fit to obtain evidence and call for documents. The Committee reports to the Parliament and the recommendations contained in their reports are deemed to be directives to the respective Corporations or Statutory Boards for due compliance.
Since its inception, the following Members have held the post of Chairman of the Committee on Public Enterprises:
- Hon. George Abeygunasekera, M.P.
- Hon. M. S. Amarasiri, M.P.
- Hon. J. A. E. Amaratunga, M.P.
- Hon. Wimal Wickramasinghe, M.P.
- Hon. Rohan Abeygunasekera, M.P.
- Hon. D. P. Wickremasinghe, M.P.
- Hon. (Prof.) W. A. Wiswa Warnapala, M.P.
- Hon. Reggie Ranatunga, M.P.
- Hon. Jeyaraj Fernandopulle, M.P.
- Hon. Rohitha Bogollagama, M.P.
- Hon. Wijeyadasa Rajapakshe, M.P.
- Hon. W. D. J. Senewiratne, M.P.
- Hon. DEW Gunasekera, M.P.