Sri Lanka state entities making losses; ruined by political meddling: report

Nov 03, 2011 (LBO) - Sri Lanka's state entities have been badly hit by the appointment of unqualified persons to top positions and while annual accounts were not available for some, a media report said.









The COPE report is also critical on the performance of all university administrations except the Moratuwa University, the newspaper said.

"The appointment of unqualified people to top management posts on political grounds and the lack of financial and administrative disciplines had ruined many of the public enterprises," Sri Lanka's Daily Mirror newspaper quoted minister D E W Gunasekara as saying.

"One of our strong recommendations will be to appoint educated and professionally qualified people to the top management at these institutions."

No Accounts

Minister Gunasekara chairs a parliamentary committee on public enterprises (COPE) which has examined 249 entities. There were 19 billion rupees in losses in key institutions

Losses were in Ceylon Electricity Board (CEB), Ceylon Petroleum Corporation (CPC), Sri Lanka Cricket (SLC), the State Timber Corporation (STC), Sri Lanka Rupavahini Corporation, Lankaputhra Bank and Mihin Lanka among others, the newspaper said.

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