• SLIC owns 99% of the shares of Litro

By Yohan Perera and Ajith Siriwardana 

The Committee on Public Enterprises (COPE) yesterday recommended a government audit on Sri Lanka Insurance Corporation, Litro Gas Lanka Limited and Litro Gas Terminal Lanka (Pvt) Ltd. 

The COPE instructed so at the meeting chaired by Prof. Charitha Herath in Parliament on Wednesday. 
The COPE Chairman stated that Litro Gas Lanka Limited and Litro Gas Terminal Lanka (Pvt) Ltd have gone to court stating that they cannot be audited by the government, especially under the 20th Amendment to the Constitution. Prof. Charitha Herath explained that it is appropriate to refrain from discussing about these institutions. Prof. Herath also explained that the two institutions would not be able to be summoned to the COPE as they would not be subjected to the government audit and therefore the matter could not be discussed at length.  However, the members of the COPE were of the view that these institutions should be audited by the Government as Sri Lanka Insurance Corporation owns 99% of the shares in these two institutions. Therefore, the committee stressed that these institutions should be summoned to the COPE. .

• Litro Gas Lanka Limited and Litro Gas Terminal Lanka (Pvt) Ltd have gone to court stating that they cannot be audited by the government