Janaka Ratnayake, a presidential candidate and former chairman of the Sri Lanka Public Utilities Commission, has unveiled what may be the largest financial fraud ever reported by the Auditor General, involving the Ceylon Petroleum Corporation (CPC).
Speaking to the media, Ratnayake disclosed that during a Committee on Public Enterprises (COPE) meeting, he revealed a staggering 36 billion rupee fraud related to fuel importation by the CPC. He accused mismanagement and corruption of causing a significant increase in fuel prices, claiming that if proper practices had been followed, the public could have seen a reduction of 200 rupees per liter.
Ratnayake stated that the COPE Committee has instructed the Auditor General to conduct a comprehensive investigation based on his allegations. The findings reportedly involve senior government officials and politicians, exposing significant misuse and financial irregularities within the CPC.
Key figures implicated include Power and Energy Minister Kanchana Wijesekera, former State Minister of Power D.V. Chanaka, State Minister of Power and Energy Indika Anuruddha, former CPC Chairman Mohammad Uwais, and Secretary of the Ministry of Power and Energy Mapa Pathirana.
The Auditor General’s report highlights issues such as fuel oil procurement missteps, urgent procurement delays, bid management and tender irregularities, mismanagement of diesel procurement, misapplication of pricing models, and uneven fuel distribution. The report underscores the urgent need for reforms within the CPC to prevent further financial losses and restore public trust.
Ratnayake emphasized that the 36.5 billion rupee loss is not just a financial disaster but a betrayal of public trust, urging the CPC and relevant authorities to address these issues swiftly to ensure such failures do not recur.
