News

Treasury to bailout Cultural Fund

The Treasury will provide the monies to finance the failing Central Cultural Fund, The Sunday Morning learnt.

Co-Cabinet Spokesman Minister Dr. Bandula Gunawardana told The Sunday Morning that the Cabinet had given its approval to provide finances for the fund.

“The Treasury will release the money required for the Central Cultural Fund to pay salaries and for other expenses,” Dr. Gunawardana said.

The Central Cultural Fund requires an estimated Rs. 135 million each month for its operations and functions.

With regard to the dilapidated state of the entity, Dr. Gunawardana said a committee had already been appointed by the Prime Minister to look into the issues at the Central Cultural Fund.

“The committee was appointed in March this year and is headed by a former Justice of the Supreme Court (SC). The committee has been tasked with investigating any instances of corruption and financial irregularities,” he said, adding that action would be taken upon the findings of the committee once its report is submitted.

Dr. Gunawardana also noted that the Covid-19 pandemic would have delayed the functions of the committee. “I expect the report will be compiled and handed over soon,” he said.

– Skandha Gunasekara