Corruption Watch focus on Mihin Air
(Lanka-e-News, November 18, 2008, 6.10 PM) Counsel Shiral Lakthilaka says that the Mihin Air directors and officials are enjoying Board of Investments (BoI) concessions and many other dispensations regardless it is a company that went bankrupt after swallowing Rs. 3.7 billion public money. BoI concessions are usually provided to foreign direct investment.

Mr. Lakthilaka made these observations addressing the press briefing of `Corruption Watch` programme held in Colombo today to mark the third anniversary of the presidency of Mahinda Rajapakse. `Corruption Watch` has been set up to expose the corruption ad malpractices.

He said that Rs. six billion was allocated to this bankrupt company from this budget. Of the Rs. 3.7 billion granted earlier, Rs. 1.7 billion was lent by Bank of Ceylon which was affected due to the non-payment of this loan. Lanka Puthra Bank that was mobilized to assist small and medium scale enterprises went totally inactive as a result of unsettled loans of Mihin Air. The budget airline is in debt of Rs. 385 million to Ceylon Petroleum Corporation as well.
According to Mihin Air`s agreement with BoI, the company has agreed to bring Rs. nine billion investment to the country but not a single cent has been drawn yet. Further it ate Rs. 3.7 billion from public coffers, Mr. Lakthilaka said.

The Corruption Watch spokesperson Shiral Lakthilaka said that time was ripe for bringing the director board of this state owned company to books and Corruption Watch would perform that duty.