The major findings of the forensic audit conducted by KPMG on the sales and distribution of petroleum products from Ceylon Petroleum Storage Terminals Ltd (CPSTL) was briefed to me this afternoon.
The forensic audit was initiated based on a complaint that I made to the CID in August 2022 on irregularities at CPC & CPSTL. CID after their initial investigations advised the Ministry to conduct a full forensic audit to further investigate.
KPMG & CPSTL audit investigation officials briefed me today that they have found that
1. More than 1.3 Million entries on SAP data has been changed or deleted since 2010 and most has occurred in 2022 during the height of the fuel crisis
2. After the complaint was lodged in August 2022 the number has significantly reduced in 2023
3. Massive losses has been recorded from stock holding in 2022 amounting to Rs 28 Billion & after the complaint was lodged it has come down to Rs 4 billion in 2023
4. Use of outdated circulars & procedures and no adequate data available or kept to determine certain irregularities
The full report will be handed over next week by KPMG and I will handover the complete report to the CID for further investigations & to take appropriate legal steps. It will also be shared with the Cabinet of Ministers, Parliament, Audited General and Attorney Generals Department to pursue the next steps.
📚 At Moratuwa, they do things differently.
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⭕ Now, they're innovating again by letting students select their focus based on their Z-score before even starting university life. 🤷
#SriLanka #Mora #Engineering
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With an economy far more consistent than the country he represents, here are some amazing numbers with Maheesh Theekshana who's ranked 5th with the #ICCRankings! https://t.co/gdmiwACB1W
Hint - He's the only Sri Lankan bowler below 7 in T20Is since the beginning of 2022
A little late but congratulations @mithxnw on being the winner of The Sidelines X Whistle Jerseys Giveaway!
Special thanks to @YoosufZuhry_ and team. Wishing you the best as there is more to come!
Do support🔽
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Last night, I was invited to speak about Sri Lanka's tech sector pegging their salaries to the dollar & the absolute bizarre stance that SLASSCOM has taken on the matter.
Here's a thread:
Newly elected President of Sri Lanka Ranil Wickremesinghe, then opposition leader, asked Japan to suspend economic assistance to Sri Lanka [2007] – Japan responded people should not be punished “for acts of commission and omission by their leaders” https://t.co/qc45S5DSfj
1) I will not take CEB request to increase tariff rates to the cabinet since CEB does not assist the renewable energy generation plans. CEB should allow renewable projects to proceed and reduce generation cost rather than increasing tariffs to pay their own salaries.
Hey @GotabayaR and @RW_UNP: why do IT companies pay no income taxes???
Even under normal conditions that makes no sense (and the argument that that will drive extra growth is fake), but at this time EVERYONE has to do their part!
@SLASSCOM@icta_srilanka
@sanjiva So true. Is it necessary to wear a suit!
Sametime, I heard @charith9 saying they have mentioned the dresscode in the letter and everybody has adhered to that. So eventhough this suit thing is a bullshit, financial officer couls have adhered to that. Any thoughts?