SOEs should follow regulatory processes: COPA

Thursday, 24 January 2019 02:33 - - {{hitsCtrl.values.hits}}

UPFA MP Lasantha Alagiyawanna appointed Chairman

By Ashwin Hemmathagama – Our Lobby Correspondent

The Committee on Public Accounts (COPA) plans to encourage responsible decision making at State Owned Enterprises (SOEs) under its purview by making them follow proper regulatory processes to improve accountability, newly reappointed COPA Chairman Lasantha Alagiyawanna said yesterday.

United People’s Freedom Alliance lawmaker Lasantha Alagiyawanna, who was unanimously reappointed as the Chairman of the Committee on Public Accounts (COPA)yesterday, told Daily FT forensic investigations have limitations in terms of recovering the losses incurred, or to rectify the wrong decisions taken, unless new standards are introduced for State institutions to follow.

“During the past COPA gradually introduced using the state-of-the-art technology. COPA should be further strengthened, where media will also be allowed to witness proceedings with the approval of the Speaker,” he said.

“The COPA find the issues after the wrong moves are taken. No matter what we do at COPA, the chances are less to turn back the decisions taken and to recover losses and correct the process. Our effort is to minimise wrong decision-making at State establishments. This doesn’t say that we will give up post-investigations,” Alagiyawanna added.

Commending the fellow lawmakers for reaching a collective decision to re-appoint him, MP Alagiyawanna held that he would continue to work independently for the betterment of the country.

“Received the support from all lawmakers to take forward the COPA. I am happy that all lawmakers regardless of party politics have agreed and elected me again as the Chairman. So, I will continue to uphold the trust they have placed on me,” he added.

MP Alagiyawanna was proposed by State Minister of National Policies and Economic Affairs Niroshan Perera, and was seconded by Janatha Vimukthi Peramuna (JVP) MP Dr. Nalinda Jayatissa. MP Alagiyawanna was the Chairman of COPA prior to the prorogation of Parliament on 27 October 2018.