COPE exposes how BoI squandered over Rs 3.3 billion, recruited 7 persons outside procedures with big salaries

The parliamentary watchdog Committee on Public Enterprises (COPE) yesterday (11) questioned Sri Lanka’s premier investment facilitator the Board of Investment (BoI) regarding payment of a staggering Rs 3.3 bn to various companies without proper assessment of the work done and proper planning.

Prof. Charitha Herath (SLPP) chaired the meeting. The money had been spent on Millaniya and Biyagama Export Processing Zones (EPZs).

The COPE pointed out that of the total amount wasted, Rs 2.3 bn had been spent on the Milleniya EPZ without even resolving the ownership issue. It said that funds had been spent on infrastructure development without entering into agreements.

The BOI Chief has said that agreements had been finalised subsequently. Prof. Herath has called for a comprehensive report from BoI.

Herath also inquired about how the BoI recruited seven persons outside laid down procedures at big salaries. The COPE Chairman pointed out such actions triggered disputes within the organisation (SF)

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