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COPE flags Rs. 594 b loss at CEB between 2014-2022

Daily FT

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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

COPE flags Rs. 594 b loss at CEB between 2014-2022

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.

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यह कहानी Daily FT के September 27, 2025 संस्करण से ली गई है।

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