- COPE reveals SLPA fuel supply unit began operations in 2014 at Hambantota Port with CPC licence
- Borrows $ 24 m from local bank with SLPA guarantee
- Finds $ 18.8 m outstanding while company had begun liquidation process despite two lawsuits from bank
- Asserts liquidation inadequate, SLPA officials asked to expedite loan repayment
- Among 33 SOEs to be liquidated for underperformance
| COPE Chairman MP Dr. Nishantha Samaraweera |
The Committee on Public Enterprises (COPE) has found that the Magampura Port Management Company, a fuel supply unit of the Sri Lanka Ports Authority (SLPA) at the Hambantota Port, is in the process of liquidation with nearly $ 19 million borrowed from a local…