Another Sugar scam?

COPF to determine tomorrow

• Govt. may lose Rs 10Bn as a result of the scam
• In 2021 the Govt. lost Rs 16Bn from a similar scam
• Scam involves release of an old stock after duty revision
• The import duty of sugar was increased to Rs 50 from 25 cents last week

By Yohan Perera  

The Committee on Public Finance ( COPF) is to probe the alleged second sugar scam where it is alleged that the government is slated to lose Rs 10 billion as a result of releasing an old stock of sugar to the market after the duty revision, Daily Mirror learns.   

COPF Chairman Dr. Harsha De Silva told Daily Mirror that he will take up the issue when the Committee meets on Tuesday.  
“ We are planning to bring up the issue on Tuesday when COPF meets,” Dr. De Silva said.  

Earlier Opposition Leader Sajith Premadasa alleged that the government is to lose Rs 10 billion as a result of releasing and old stock of22,000 metric tonnes of Sugar to the market as soon as the import duty of sugar was increased to Rs 50 from 25 cents last week.  

It was reported in 2021 that the government had lost Rs 16 billion as a result of the earlier sugar scam when a similar duty revision where the import duty was reduced from Rs 50 to 25 cents.