The National Audit Office has uncovered significant financial irregularities in the Ceylon Fisheries Corporation, revealing that the sale of fish on credit basis, contrary to internal circular instructions, has resulted in a debt of twenty-six crore twenty lakh rupees (26,20,00000) for the corporation by December 31, 2021.
According to the audit report, an amount of two million and ninety lakhs has been outstanding for over five years due to the sale of fish on credit, with an additional one crore and seventy lakh rupees to be collected from sales to employees of the Fishery Corporation and hospitals.
Despite the clear violation of circular instructions, the audit findings indicate a lack of action taken against officials involved in selling fish on credit. The report also sheds light on the corporation’s financial strain, stating that it was unable to manage its precarious financial situation, with a bank amount of 159 million rupees and an interest payment of 35 million rupees due on October 31, 2022.
The report emphasizes the urgency of addressing these financial discrepancies and underscores the need for corrective measures to ensure the financial stability and compliance of the Ceylon Fisheries Corporation.