COPE interim reports to be presented to Parliament

By Isuri Yasasmin Kaviratne

An interim report on 20 institutions which COPE investigated from January to April will be presented to Parliament, as soon as it is translated into all three languages COPE Chairman Sunil Handunnetti told the Sunday Observer.

He said the purpose of presenting interim reports as opposed to one report at the end of the year, similar to the last five years, is to expedite the investigation procedure and to ensure that the issues raised in the reports remain valid and contextual. “The ideal situation would be to present a report for every institution investigated the same week itself to Parliament, but COPE doesn’t have the staff or resources to carry out such a programme.”

Based on the Auditor General’s report, investigations on the Central Bank Bond issue will continue, regardless of the newly-appointed Governor, Handunnetti said.

The focus of the continuing investigation would be the monetary losses to the country, individuals responsible, whether the money could be refunded, in which case the method to be followed, the legal context of the bond issue and preventive methods. If the Central Bank doesn’t have existing rules and regulations to prevent such issues from recurring, the investigations will look into making necessary amendments as well. “The appointment of the new Governor will not have an impact on COPE investigations,” he said.

Meanwhile, out of the 427 institutions, COPE is in the process of carrying out investigations as they receive reports from the Auditor General, and 35 institutions have been scrutinized by COPE so far.