The Hon. K.V. Samantha Viddyarathna - Minister of Plantation and Community Infrastructure
The Minister stated that the Fund, established in 2000 with Rs. 781 million from the Treasury, shareholders, and member insurance contributions, remained profitable until 2008 but subsequently recorded losses. He attributed the decline to poor management and alleged fraud and corruption noted in audit reports, and said inquiries would be conducted with appropriate action to follow.
Verbatim record (translated)
Machine-translated from Sinhala / Tamil / English¶ 01 As I stated, the Fund began in 2000 and was profitable up to 2008. It was initiated with Rs. 437 million from the Treasury, Rs. 209 million as equity from shareholders, and Rs. 135 million to an insurance fund from members—totalling Rs. 781 million. After 2008 the Fund incurred losses. There has been poor management and instances of fraud and corruption as reflected in audit reports, and inadequate action was taken then. We intend to conduct inquiries and take appropriate action going forward.
Provenance
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- Hansard, Monday, 17 March 2025 ·No. 1745486934006324 ·English daily/uncorrected Hansard
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Cite as: The Hon. K.V. Samantha Viddyarathna - Minister of Plantation and Community Infrastructure. 10th Parliament, Parliament of Sri Lanka. Hansard, 17 March 2025. No. 1745486934006324. Politick, https://staging.politick.io/lk/speeches/12682