Loans obtained failed to fulfil objective - COPA

The Committee on Public Accounts (COPA) had rapped Minister of Higher Education and Highways for obtaining a loan of Rs.55,392.2 million even though a sum of Rs.28,000 million utilizing for other fields which are not in conformity with the objective of obtaining the loan.

This was revealed by the COPA report which was tabled in Parliament by its Chairman Lasantha Alagiyawanna.

An official from the Ministry had said a sum of Rs.3.75 billion has been used for the acquisition of lands and Rs.6 billion from it has been used repay loans.

The COPA report amount of Rs.2,689.732 million which similar to 50% of the total estimated cost of central highway project had been paid to the contractor although the project is yet to begin. The officials of the ministry had said that this amount was spent to maintain the staff which was recruited for surveying and acquisition of lands.

Department of Motor Traffic is taken to the task for failing to recover Rs.531 million due for luxury/semi luxury cars and duel purpose vehicles imported from 1995 to 2010 and 2016 to date.

The COPA had also revealed that Colombo Municipal Council (CMC) had failed to recover an income of Rs.4,150 million out of which is 42% of it has been assessment taxes. It was also revealed that legal action has been taken to collect Rs.357,979.09 for five surcharge certificates related to illegal payments.

Further it was revealed that there are 2,000 unauthorised units in the Colombo City and cases have been filed against them.