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COPE flags Rs. 594 b loss at CEB between 2014-2022
Daily FT
|September 27, 2025
Alleges mismanagement and rule violations Losses triggered steep tariff hikes in August 2022, though CEB became profitable post-2023 COPE raise concerns over unclear shareholding structures of LTL and affiliated companies Non-delivery of vehicles worth Rs. 124 m and reveals unauthorised provident fund loans exceeding Rs. 6.6 b Discloses Rs. 507 m in unapproved allowances and no permanent internal auditor for 11 months
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COPE Chairman MP Dr. Nishantha Samaraweera
THE Committee on Public Enterprises (CoPE) has revealed that the Ceylon Electricity Board (CEB) incurred a staggering loss of Rs. 594.36 billion between 2014 and 2022, excluding 2015, largely due to internal inefficiencies and mismanagement.
The revelation came during a COPE meeting chaired by MP Dr. Nishantha Samaraweera on Wednesday, where the Auditor General’s report on the CEB’s performance for 2022 and 2023 was reviewed.
This story is from the September 27, 2025 edition of Daily FT.
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