power for COPE and PAC
The Treasury has agreed to provide a sum of Rs. 100 million based
on the Budget proposals of 2005 to strengthen the Committee on Public
Enterprises (COPE) and the Public Accounts Committee (PAC).
COPE Chairman Rohitha Bogollagama stated this to Parliament last
COPE has met on 112 occasions and examined 48 institutions during
the one year period between October 2004 and October 2005, the minister
said.The Committee has so far submitted two reports in respect of
15 public enterprises including the Ceylon Petroleum Corporation,
the Ceylon Electricity Board and the Ports Authority.
The Committee found there were serious financial irregularities
in all these institutions and made several recommendations on how
to improve their financial management.