CoPF Chair warns public may bear cost of USD 2.5mn Treasury fraud

Chairman of the Committee on Public Finance Dr. Harsha de Silva has warned that Sri Lankan taxpayers may ultimately shoulder the burden of USD 2.5 million fraudulently transferred from the Treasury to external recipients. Speaking on Tuesday, the MP expressed concern that the public would bear financial responsibility for funds illegally moved out of government accounts to parties outside the country. De Silva's remarks underscore growing frustration within Parliament's oversight body regarding accountability mechanisms surrounding the misappropriated funds. The CoPF chief alleged that the Speaker of Parliament disregarded a key committee recommendation to conduct a comprehensive forensic audit into the transfers. Such an investigation, de Silva suggested, could have provided crucial documentation to support recovery efforts and identify those responsible for facilitating the unlawful transactions. The allegation raises questions about the institutional checks and balances meant to protect public finances from misuse. De Silva's statement comes amid mounting scrutiny of Treasury management practices and internal control weaknesses that allowed substantial funds to leave state accounts without apparent authorization. The CoPF has not disclosed specific details about the recipients of the transferred funds or the timeline of the fraudulent activity, though the committee's inquiries into the matter remain ongoing.