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 LTL Transformers to be audited after employees’ request

LTL Transformers to be audited after employees’ request

17 Nov 2023 | BY Buddhika Samaraweera

As a result of a joint request made by the employees of LTL Transformers (Pvt.) Ltd. and the Electricity Consumers’ Association (ECA), the Auditor General’s (AG) Department has agreed to conduct an audit on the said company, of which the Government owns 63% of the shares.

Speaking to The Daily Morning yesterday (16), ECA General Secretary Sanjeewa Dhammika said that 63% of the shares of this company, which maintains all the transformers installed throughout the island, belong to the Government, with the remaining 37% to its employees. However, he claimed that the employees had not been given the income of the shares that they owned for a long time. He said that the company’s employees had been asking for solutions for a long time but that they had not received any response from the relevant institutions, including the Ministry of Power and Energy.

“LTL Transformers (Pvt.) Ltd. is a company with a massive income. Therefore, there are frequent irregularities and acts of corruption taking place there. There have even been cases where certain Ministers of Power and Energy had used the money of this company for their election campaigns in the past. Although there are many such problems, the AG’s Department has not conducted an audit on this company for a long time,” he said.

Speaking further, Dhammika said that its employees and the ECA had held a protest in front of the AG’s Department on Wednesday (15), demanding an immediate audit on the company concerned and probes into its alleged financial irregularities. He also said that they had had the opportunity to meet Deputy Auditor General Nimal Thilakarathne during the protest and that he (Thilakarathne) had promised to conduct an audit on the company as certain legal obstacles to do the same had now been removed.

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