CoPE to probe Lotus Tower transactions

• CoPE Chairman says full-scale investigation will be held
• TRC officials will be among those summoned before Committee

By Ashwin Hemmathagama – Our Lobby Correspondent

The Committee on Public Enterprises (CoPE) yesterday decided to launch a full-scale investigation on Lotus Tower based on the revelations made by President Maithripala Sirisena recently at the inauguration of the tower highlighting questionable transactions that had taken place under the Rajapaksa regime. 

CoPE Chairman and Opposition lawmaker Sunil Handunnetti said during yesterday’s CoPE meeting that all institutions including the Telecommunication Regulatory Commission of Sri Lanka (TRCSL) would be summoned for an investigation on the questionable deals and the construction-related matters of the Lotus Tower.

“In June 2014, CoPE made an investigation about the Lotus Tower. The Auditor General had prepared a special report on the Lotus Tower and that report was presented to Parliament on 1 April. This report analysed various aspects of the tower and all stages from construction to operation. CoPE will take this matter in a speedy manner and complete its probe within a short time,” he said.

President Sirisena on Monday held that the Lotus Tower was a positive development for Sri Lanka there were governance concerns attached to the project as an estimated Rs. 2 billion loss was incurred to the Government due to an advance payment for the venture in 2012. 

The 350 m tall Lotus Tower was constructed at a cost of $ 104.3 million with funding from the Government of China. The Lotus Tower will function as a TV tower, a hotel, a shopping mall and a conference centre.