The Fourth Report of the Committee on Public Enterprises (COPE) presented to Parliament on Thursday (October 19) has brought to light that the loss on the Hedging Deal which was estimated at Rs.10.2 billion as at January 2016 has increased to Rs. 14.062 billion by 31-12-2016.
The COPE has, according to the Report, inquired the current status of the investigations into this deal, carried out by the Attorney General, Criminal Investigations Department and the Commission to Investigate Allegations of Bribery and Corruption. Presenting the report, Handunnetti said the Ministers and their Secretaries as Chief Accounting Officers should take follow up action to remedy these situations. He said, “There is no point in presenting these reports if the Chief Accounting Officers do not take the matters revealed in these reports seriously and act accordingly. It is the duty of those who have the power to take action against those who had caused losses.”