PARLIAMENT

• A record revenue of 2 billion rupees in 2022
• It has been a long time since such public institution came before COPE - COPE Chair states
• Compliments from the Auditor General

The Kalubovitiyana Tea Factory Limited was summoned to the Committee on Public Enterprises (COPE) which met on 08.09.2023 Chaired by Hon. (Prof.) Ranjith Bandara, Member of Parliament. The COPE Chair congratulated the institution on the progress it has made.

The Auditor General's 2021, 2022 reports and current performance of that institution were examined at this Committee meeting held. A group of officials including Mr. Janaka Dharmakirthi, Secretary to the Ministry of Plantation Industry, Mr. Aminda Rodrigo, Chairman of The Kalubovitiyana Tea Factory Limited, were also present at this Committee.

Addressing the Committee, the Chairman of Kalubovitiyana Tea Factory Limited stated that in 2022, the highest income of the company was Rs. 2 billion and a profit of Rs. 214 million following the payment of tax was also recorded. He pointed out that there are 4 tea factories in Matara, Galle and Kandy districts and they have successfully overcome many challenges including obtaining tea leaves. The Chairman of the company also stated that the company has shown success by adhering to the existing rules of the government as a public institution.

Although the company is small, the Auditor General said that this state-owned company has shown great progress in terms of accounts and financial statements. He appreciated the institution and mentioned that it has been a long time since he met such a progressive institution. The Auditor General pointed out that the recommendations given by COPE in 2013 have been followed to an extent of ninety-five percent and great progress has been achieved through high management skills. Here, attention was paid only to two audit questions.

Attention was directed on recovering the amount of 1.4 million rupees which is the deposit amount paid when acquiring the building where the head office was maintained by the company on a monthly rental basis. According to the said, the officials stated that a case is being filed.

In 2003, even though the loan amount given to a state company at the interest rate of twenty two percent was recovered, the interest was not charged. The officials also said that the institution has assured that it will pay the interest amount of 51 million rupees in installment basis.

Members of Parliament Hon. Nimal Lanza, Hon. Upul Mahendra Rajapaksha, Hon. Sanjeeva Edirimanna, and Hon. M. Rameshwaran were present at this Committee meeting held.