Sri Lanka Tri forces asset management is to be streamlined following recent revelation of government audit report. Measures will be taken to arrest short comings under the new administration, official sources said.
The Committee on Public Enterprises (COPE) has issued a directive to stipulate a proper mechanism to regularize commercial ventures of three armed forces.
According to the directions issued it was expected to form such projects which use the physical and human resources of the tri forces, as statutory fund under a common platform, as enable to supervise by the parliament and subject to audit annually.
Even though the Secretary of the Ministry of Defense had issued instruction in this connection by the Letter No EA/IA/05/05(02) of 11 November 2009, proper action had not been taken thereon.
03 Holiday Resorts and agriculture farms had been conducted by the Sri Lanka Air Force and conducting of 07 Holiday Resorts and 05 Reception Halls by Sri Lanka Navy on commercial basis and no information on financial and operating results were presented along with the financial statements, government audit query discovered.
Further, the share ownership of the Company rested with 05 officers of Sri Lanka Air Force and the Committee on Public Accounts had directed to reform the Company as enable to receive the share ownership to the General Treasury. However action had not been taken to initiate the process even as at 31 December 2018, audit report highlighted.
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