Kabir asks for committee to investigate misappropriation of Commonwealth Games funds

Wednesday, 22 November 2017 00:10 - - {{hitsCtrl.values.hits}}

By Ashwin Hemmathagama

– Our Lobby Correspondent

Violating finance regulations, a private account maintained during the period of the Rajapaksa administration to hold funds for the Commonwealth Games has set the stage for financial misappropriation of Rs. 900 million, Minister of Public Enterprise Development Kabir Hashim told Parliament yesterday, proposing to appoint a committee to investigate the shady deal in depth.

The particular bank account opened at the Bank of Ceylon in favour of CWG Hambantota 2018 Ltd. has received a total of Rs. 200 million from state establishments and another Rs. 700 million from private institutions.

“The current account was opened on 24 November 2010 and was closed on 29 May 2015 as per the instructions of the particular company. Apart from the current account, a fixed deposit opened on 6 June 2012 held Rs. 11 million for a period of seven days. The state entities and the funders credited this private account, including Rs. 17 million from Sri Lanka Telecom Plc, Rs. 5 million from Mobitel, Rs. 297,350 from the sports fund of Sri Lanka Navy, Rs. 5 million from People’s Merchant Finance Plc, Rs. 110 million through the Sports Ministry, Rs .8 million from the Export Development Board, Rs. 45 million from the President’s Fund and Rs. 89, 899 from the Ceylon Electricity Board,” the Minister explained. Adding to the list of private transfers, Perpetual Asset Management has credited Rs. 15 million.

According to the Articles of Association and other papers, the account has been used for the tender purposes of the Commonwealth Games with J.W.M.J.P.K. Rathnayaka, Dr. Rani Jayamaha, A. Nalin Atygale, S. Liyanagama, Dr. Nalaka Godahewa, U. Ranjith Senevirathne, W.R.M. Kumar Fernando and A. Nishantha Wickramasighe serving as its directors.

“As far as I know, the funds in this account were utilised to have the Commonwealth Games by organising a big party in St. Kitts with the participation of the former Central Bank Governor and 100 females. This is Government money. Unless we take a court order further details cannot be obtained from the bank. Unless a commission is established the details of these funds will not be given to us,” the Minister added.