2019-10-23
News Categories : Committee News
The third report of the Committee on Public Enterprises (COPE) presented to Parliament today, the 23rd of 2019 revealed that the total loss endured by the Ceylon Petroleum Corporation in the year of 2018 amounts to Rs.105 billion.
The COPE report also indicates a loss of Rs. 505,408,042 endured by the National Water Supply and Drainage Board and a loss of Rs. 33,622,258 sustained by the Elkaduwa Plantation Limited. Additionally, a loss of Rs. 2,187,367 by the Pali and Buddhist University, a loss of Rs. 3,567,328 by the Postgraduate Institute of Archeology has also been reported in COPE findings.
The committee report further reveals that the financial reports expected to be submitted by the Janatha Estate Development Board and the Sri Lanka Mahaweli Authority have not yet been submitted to the COPE.
Based on the audit reports submitted by the Auditor General auditing the accounts of 23 government authoritative bodies including Lanka Hospital Corporation PLC, State Pharmaceutical Corporation of Sri Lanka, National Transport Commission, Road Development Authority, State Engineering Corporation, Land Reform Commission, Ceylon Industrial Development Board, Sri Lanka Football Federation, Lanka Electricity (Private) Limited, the aforementioned losses were unveiled. Except above mentioned institutes all other have reported profits according to their submissions.
Since the opening of the Committee on Public Enterprises (COPE) for media coverage on 9th August 2019, it has widened the opportunities for citizens to be involved in facing the current challenges in the economic, political and cultural spheres of Sri Lanka.
Presenting the report of the Committee on Public Enterprises (COPE), its Chairman and Hon. Member of Parliament Sunil Handunneththi said that the affairs of the COPE are respected and appreciated and thus the public shows interest on its prerogatives whilst observing how it’s recommendations are executed.
The Committee chair further elaborating stated that out of the 08 ministries due to submit their observations regarding the authoritative bodies highlighted through the second report tabled by COPE on January 2019, five are yet to submit their reports despite the requisite of submitting to the Parliament within eight weeks.
The Chairman requested the Speaker to allow the officials of the Attorney General's Department to observe the proceedings of the Committee on Public Enterprises which are functioning in Parliament to expedite the accountability of those responsible.
Further, he said that it will facilitate taking legal action on the basis of eye witnesses with regards to the irregularities of the institutions at the presence of COPE. The Deputy Speaker agreed to this request and said that he would take appropriate action in consultation with the Speaker.
2026-07-30
The Sectoral Oversight Committee on Infrastructure and Strategic Development held extensive discussions on the Sri Lanka Ports Authority's (SLPA) current operational performance, the progress of its development projects, financial performance for 2026, the implementation of recommendations previously made by the Committee, and the Authority's 2024 Annual Report.The discussion took place when the Committee met in Parliament recently under the chairmanship of Hon. Member of parliament S. M. Marikkar.The Committee reviewed the financial progress and profitability recorded by the Sri Lanka Ports Authority during the past six months and discussed measures required to sustain this positive performance.Particular attention was paid to the growing regional and domestic competition faced by the Port of Colombo. The Committee sought clarifications from officials regarding the competitive pressures arising from the expansion of India's Vizhinjam Port, the investment made in that port by one of the world's leading shipping companies, Mediterranean Shipping Company (MSC), and plans to increase the capacity of the Port of Hambantota.The Committee also held detailed discussions on the progress of development projects aimed at expanding the capacity of the Port of Colombo, the reasons for delays in implementing these projects, issues encountered in procurement and tender procedures, and the financial impact of these delays on the Government.The Committee emphasized the need to conduct a proper audit into the causes of the delays in order to identify the parties responsible. It further stressed the importance of implementing more efficient procurement and project management mechanisms to prevent similar delays in the future.The development of regional ports, including Hambantota, Galle and Kankesanthurai, strengthening related infrastructure, and enhancing local capacity by increasing the participation of domestic construction companies, consultants and technical professionals in port development projects were also discussed.At the conclusion of the meeting, the Committee underscored the need to expedite measures to ensure that Sri Lanka Ports Authority projects are completed within the stipulated timeframes, strengthen institutional accountability and transparency, and further enhance the Authority's efficiency and profitability as a state-owned enterprise.The meeting was attended by Hon. Members of Parliament Ajith P. Perera, Manjula Suraweera Arachchi, Chathura Galappaththi, Ravindra Bandara, Dhanushka Ranganath, and Shantha Padma Kumara, as well as the Secretary to the Ministry of Ports and Civil Aviation, the Chairman and Managing Director of the Sri Lanka Ports Authority, and other relevant officials.
2026-07-30
The Hon. Minister of Housing, Construction and Water Supply Dr. Susil Ranasinghe stated that action will be taken, based on the recommendations of a committee appointed to examine housing projects that were commenced during previous administrations but left incomplete due to various reasons.The matter was discussed at the meeting of the Ministerial Consultative Committee on Housing, Construction and Water Supply, held in Parliament under the chairmanship of the Minister.The Minister said that consideration is being given to allocating funds through the 2027 Budget to implement a new programme to complete these housing projects.He noted that a number of housing projects initiated in previous years had been abandoned midway because the loans and grant funding allocated for them had not been fully disbursed. According to the Minister, there are nearly 5,000 such incomplete housing units.Accordingly, a five-member committee, co-chaired by two former Secretaries to the Ministry, has been appointed to identify housing units that are in a condition suitable for use and to make recommendations on the future course of action regarding those projects.The Minister stated that the committee has already commenced its work by gathering information on the relevant housing projects, identifying houses that are fit for occupation, and formulating recommendations on the measures to be taken.He further said that final decisions regarding the abandoned housing projects will be made based on the recommendations submitted by the committee.The Minister also announced that assistance will be provided next year to families requiring support to complete partially constructed houses. It is expected that approximately 2,000 families will benefit from this programme.Meanwhile, Members of Parliament who attended the Committee meeting raised issues relating to the housing and water supply sectors in their respective electorates.The Ministry also agreed to convene a special meeting, with the participation of all relevant stakeholders, to discuss housing-related issues, including housing projects for low-income families in the Colombo District.
2026-07-30
The Committee on Public Finance (CoPF) held an extensive discussion on the first Annual Report for 2025 of the Public Debt Management Office (PDMO), which was established under the Public Debt Management Act, No. 33 of 2024.The discussion took place when the Committee met in Parliament recently under the chairmanship of Hon. Member of Parliament Dr. Harsha de Silva, with the participation of Hon. Members of Parliament Ravi Karunanayake, Ajith Agalakada, Nimal Palihena, Attorney-at-Law Chithral Fernando, Wijesiri Basnayake, M.K.M. Aslam, Thilina Samarakoon, and Attorney-at-Law Lakmali Hemachandra.The Committee paid particular attention to the impact on public debt servicing arising from the increase in the public debt stock during 2025, fluctuations in interest rates, and the depreciation of the Sri Lankan Rupee. The importance of coordination between the Central Bank of Sri Lanka and the Ministry of Finance in public debt management was also discussed.It was explained that the Public Debt Management Office (PDMO) was established under the Public Debt Management Act, No. 33 of 2024 to consolidate public debt management under a single institution. Its key responsibilities include managing public debt, ensuring debt sustainability, formulating the Medium-Term Debt Management Strategy, and submitting the Annual Public Debt Management Report to Parliament.The Committee also held an extensive discussion on the shortage of human resources within the PDMO and the need to provide its officers with specialized training in international financial markets and modern debt management practices. Officials also briefed the Committee on capacity-building programmes being implemented with technical assistance from the International Monetary Fund (IMF).The Committee instructed officials to submit the Training Needs Assessment (TNA) report being prepared for the PDMO within two weeks.It was further revealed that the report is expected to serve as the basis for identifying knowledge and skills gaps among PDMO staff, developing a structured annual training plan, identifying training requirements in technical areas such as international financial market operations, debt management and risk management, and planning the budget required for future training programmes.The Committee also focused on government guarantees extended to state-owned enterprises, the progress of debt restructuring, and future measures required to further strengthen transparency and efficiency in public debt management.
2026-07-22
The draft Terms of Reference (ToR) prepared for the Parliamentary Caucus for Open Parliament Initiative was approved recently at a meeting held in Parliament with the participation of Parliament's development partner organizations.The approval was granted during a meeting of the Caucus chaired by its Co-Chair, Hon. Member of Parliament Shanakkiyan Rajaputhiran Rasamanickam.The draft Terms of Reference was developed based on proposals and recommendations received during a workshop organized by the Caucus in recent months to gather stakeholder input for its preparation.The meeting also agreed that, following the approval of the Terms of Reference, the document would be submitted to Hon. President, and that a discussion would be held with the President on behalf of the Caucus.
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