Shocking

The Finance Minister says improving financial reporting standards will reduce the strain on the government budget The Finance Minister says improving financial reporting standards will reduce the strain on the government budget Better financial reporting according to the minister will make it possible for justifying restructuring of institutions making losses like the CEB, which is selling power below cost.

"Recently we looked at the figures and found out that if run the CEB efficiently we can reduce the cost by Rs.

2.50," said Sarath Amunugama, Finance Minister.

Minister Amunugama was speaking at the first ACCA Sri Lanka Sustainability Reporting awards ceremony where the Ceylon Tobacco Company won the award for the best Sustainability Report.

Minister Amunugama said public sector annual reports had become better of late but there was more to be done.

-LBR Newsdesk: LBOEmail@vanguardlanka.com