COPE asks Sri Lanka Insurance to make its subsidiary Litro appear before it

The Committee on Public Enterprises (COPE) on Wednesday instructed the Sri Lanka Insurance Corporation to ensure that the representatives of its subsidiaries, Litro Gas Lanka Limited and Litro Gas Terminal Lanka (Pvt) Ltd., appeared before the COPE and to conduct a government audit on the two institutions.

This decision was taken while the COPE was questioning the Chairman of the Sri Lanka Insurance Corporation (SLIC).

When the matter was taken up COPE Chairman Prof. Charitha Herath said that Litro Gas Lanka Ltd and Litro Gas Terminal Lanka (Pvt) Ltd had gone to court stating that they could not be audited by the government under the 20th Amendment to the Constitution.

Prof. Herath said he believed it was appropriate to refrain from discussing those institutions.

However, the members of the COPE were of the view that those institutions should be audited by the government as SLIC owned 99% of the shares in those two institutions.

Therefore, the committee insisted that those institutions should be summoned before the COPE and instructed SLIC to handle it.

Ministers Mahinda Amaraweera and Sarath Weerasekara, State Ministers Susil Premajayantha, Indika Anuruddha, Ajith Nivard Cabraal and Members of Parliament Anura Dissanayake, S.M. Marikkar, Jagath Pushpakumara, Rauf Hakeem, Harsha de Silva, S. Rasamanikkam, Premanath C. Dolawatta were present at the meeting.