The disclosure came during a COPE meeting in Parliament on October 10, chaired by COPE Chairman, Hon. Dr. Nishantha Samaraweera, where the Auditor General’s reports and the current performance of Lanka Sathosa for 2021 and 2022 were examined.
According to the committee, the company had spent Rs. 27,011,980,142 on imported rice during 2014 and 2015, but the sale of the stock yielded only Rs. 11,854,949,124. The committee noted that the rice had been imported without a proper assessment of the local rice market, paddy harvests, or storage facilities, violating standard procurement arrangements and resulting in substantial financial losses.
COPE also questioned whether a formal investigation had been conducted into the matter. Officials stated that the Criminal Investigation Department (CID) had forwarded charges to the Attorney General’s Department for filing.
In addition to the rice import losses, the committee highlighted that Lanka Sathosa has yet to recover money owed by 18 building owners who failed to complete construction projects properly, further affecting the company’s financial standing.
The COPE Committee urged officials to take immediate measures to recover the funds and ensure stricter adherence to procurement regulations to prevent similar losses in the future.
