26 September, 2020

Blog

Rajapaksa Mihin Lanka Among Largest Loss-Making Public Companies

Rajapaksa state-owned airline Mihin Lanka has been listed in the 4th interim report released by the Committee on Public Enterprise (COPE) as one of the largest three loss making state owned companies of 2013.

Mahinda Rajapaksa

Mahinda Rajapaksa

The report submitted to the Parliament by COPE Chairman D. E. W. Gunasekara yesterday revealed that Mihin Lanka – the first public venture that was named after President Rajapaksa, has incurred a loss of Rs. 3.2 billion along with Ceylon Petroleum Corporation (CPC) and Ceylon Fisheries Corporation with the total losses mounting up to Rs. 9.7 billion in 2013.

Interestingly, although the COPE audits had been carried out on 47 public enterprises, the Urban Development Authority (UDA) that is presently under the strict management of Defense Secretary Gotabhaya Rajapaksa had not submitted its financial statements.

The COPE audits had been carried out between October 8.2013 and April 2014.

Print Friendly, PDF & Email

Latest comments

  • 15
    1

    How many of Rajapaksa’s family and relatives will have to be slaughtered for the Mas Kadey to recover the loss of Rs 3,200,000,000? What is the price of meat today?

    • 13
      0

      “How many of Rajapaksa’s family and relatives will have to be slaughtered for the Mas Kadey to recover the loss of Rs 3,200,000,000? What is the price of meat today”

      Navin are you mad? Rajapaksha’s meats will not be suitable for human consumption. Not only Human’s even the Animals will not eat because Rajapaksha’s eaten innocent Peoples alive.

      • 9
        0

        Lapatiya, will you still object even if the carcasses are used as Pohora for the Hambantota paddy fields (if they are still being cultivated?)

        • 5
          0

          Yes Navin, I still object to use carcasses of Rajapakshas as Pohora not only Hambantoa, anywhere in this world as the harvest will have Poison and Innocent people might get infected.

          Carcasses of Rajapakshas are suitable to use as pohora only for those who cultivate “Hate Plants”

      • 8
        0

        Right at the moment – people in africa are scared of consuming primate meat because of E bola… if lankens would start eating Rajapakshes – the magnitude of the epidemy will surely be worst than EBOLA ..

        • 3
          0

          Sama wait a minute! But the Rajapakse meat must be nutritious stuff, the animals having been fed on New Zealand butter, Switzerland cheese, imported steaks, and even thambige halal buriyani, their psychosomatic disorders all treated and cured before slaughter.

          There is no harm trying out the slaughter, free distribution, cook, and eat. The advantages far outweigh the risk of Ebola: 1. It will be a bonus for Mother Lanka to get rid of the Jarapassa virus, 2. Her long starving children can get a nutritious meal 3. Citizens will be able to heave a massive sigh of relief.

          • 0
            0

            This comment was removed by a moderator because it didn’t abide by our Comment policy.For more detail see our Comment policy https://www.colombotelegraph.com/index.php/comments-policy-2/

          • 0
            0

            This comment was removed by a moderator because it didn’t abide by our Comment policy.For more detail see our Comment policy https://www.colombotelegraph.com/index.php/comments-policy-2/

          • 0
            0

            I have the feeling what Sama wanted to say by that is nothing else, the culture that Rajapakshes have implemented to the country today is dangerous than probable epidemies like EBOLA that could destroy the nation.

    • 7
      0

      HOw many more months would Meeharaka RajapKshe (MR) stay as our leader ?

      So long UPFA would stay as the rule of the nation, nothing would change tangibly .. to the people s progress

  • 16
    0

    The airline, like it’s namesake, is a lost cause. This man’s big ego keeps it afloat.

    Anyone with some sense would have shut this joke of an airline down, and saved us some money.

    • 10
      0

      Shiro

      “The airline, like it’s namesake, is a lost cause. This man’s big ego keeps it afloat.’

      When MaRa id gone the airline will be gone too.

      It stays as long MaRa stays.

  • 16
    0

    This airline was started when we were fighting a war. Inspite of the war expenditure, this idiot started moda mihin air to satisfy idiotic EGO. Been a small country sri lankan airways is more than needed. sri lankan air ways is loss bearing too. It was profitable when this idiots ego was not satisfied by previous chairman to cancell existing customers schedule to provide rajapassas henchmen to travel. After that he fire the chairman and appointed his wifes brother who has education to be the chairman. Enough is enough. Whole rajavassa clan should be wiped out.

  • 7
    0

    Astounding amount to lose and the loss could have been used for worthwhile projects. Since the inception of Aviation in Sri Lanka, it will be interesting to know the total amounts siphoned off by present/past governments in the name of doing service to the nation. JR will be first among this lot, while he may not have directly benefitted. The irony is, none had been persecuted for any wrongdoing and no political parties or Journalist, have taken up the issue to bring the perpetrators to justice. Governments, oppositions and the media are equally responsible for this gigantic, loathing affairs.

  • 10
    0

    The President, Minister of Finance and Minister of all important Ministries are belongs to Mahinda Rajapaksha who failed Maths in O/L. Only the President who is giving interviews for foreign media by shaking head and hand gestures and only the world leader who is carrying “Gold Magic Bole” openly to attract the public attention. He doesn’t have a clue about what is profit, Loss, Million, Billion or Trillion. He knows only increasing tax of Milk Powder and other essential commodities to find some extra income to run his “Eda Wela Tours” Government.

    • 8
      0

      Come on Lapatiya, don’t be naughty now.

      Our Saddarmadeepa Chakrawarthi knows many things.

      How to restore Sigiriya frescos, He gave some advise to archeologists.
      He taught How to eat Hoppers to Bill Clinton, Not the 200Rupee ones though.
      He knows we have Oil & Gas in Mannar base, But only at elections.
      He knows how to put the Kurahan Stake – I mean the Take`-Kare one.
      He knows how to cuddle pre arranged Babies.
      He exactly knows where Narcotics is, so he rush in by copter.
      He knows how to appoint commissions, don’t look for results.
      He even got through GCE O/L with Weda pahai thunai 5/3.
      He even knew how to manipulate and maneuver Tsunami funds, allegedly deposited in Gandini’s account.
      List could go on and on, but can Ranil do a single things mentioned above? please give the credit to the man.

      After all he is a lawyer, isn’t he? Please don’t tell me he didn’t practice or taken a single case. That’s because he was busy running back and forth to Geneva with Vasideva purely for the sake of suffering people.

      PS. I hope you will file a case for copying some of your own innovative words.
      ‘Eda wela tours’ is fantastic, I had a hearty laugh mate.

      • 3
        0

        Ts/H

        “I hope you will file a case…….”

        No, definitely not as I have no trust in Saddarmadveepa Chakrawarthi’s Judiciary system, specially cheap Justice and bunch of other judges in the higher court.

        “List could go on and on, but can Ranil do a single things mentioned above”

        Not only that T/H, even Ranil can’t do,

        1.Dye his white hair in Jet Black colour as our Ladies give preference for young Politicians like our Sanwedee, Nihathamani and Palapurudu Nayakaya.

        2. He can’t bang his chest by both hands while selling Jaathi Alaya.

        3. Ranil is not capable of handing young Tele Actresses cases delicately like our Saddarmadveepa Chakrawarthi does.

        4. Ranil can never ever find any suitable places to built a International Port or International Airport in Our Country like our Palapurudu Nayakaya did.

        5. Ranil can’t act as tele Actor while giving Interviews by shaking head and with hand gestures.

        6. Ranil can’t break the record of keeping an oldest policeman in the active service giving extension after extension.

        7. Ranil doesn’t have a Son who can teach Rugby to School Girls.
        (It’s not his mistake but disadvantage for Ranil)

        8. Ranil is not a Good Salesman who can sell Rata,Jaathiya, Agama, Niwahal bawaya, Jaathi Ayalaya, Swairee Bhawaya and Bahumika Akandathawaya.

        9. Ranil will never ever find able Ministers for Education, Higher Education and Foreign Affairs as our Chakrawarthi did.

        List is very long T/H

        “After all he is a lawyer, isn’t he? Please don’t tell me he didn’t practice or taken a single case. That’s because he was busy running back and forth to Geneva with Vasideva purely for the sake of suffering people”

        Absolutely correct but not for the reason given by you. In the court you have do lot of talking in both languages and you have to deal with learned and educated Lawyers and Judges. but you know very well T/H that he can’t do that without a help from a teleprompter. In our courts teleprompters are not allowed. If he appear as a Lawyer in the court then “Nadukaraya Hire thamai”

        • 1
          0

          Agree agree agree Lapatiya.
          That list will never end.

          ‘you have do lot of talking in both languages and you have to deal with learned and educated Lawyers and Judges. but you know very well T/H that he can’t do that without a help from a teleprompter’
          Ha ha ha This is so hilarious.

          Also Ranil cannot speak Tamil lol. ‘Wanakkam…naankal’..& then taken over by hands & legs.

  • 8
    0

    This idiot family ruling will ruin the country soon and idiots around him do not care

  • 7
    0

    http://www.nation.lk/2008/03/02/newsfe1.htm

    The history of Mihin Lanka is above.
    It was doomed from the beginning – by a person completely unsuited to plan and run an airline.

  • 1
    4

    Well, on the other hand, almost no Airline Makes money these days. Mihin, perhaps the Presidents Pet Project fairs no better.

    Importantly, how did the mother bird perform ?

    Btw, there are Three other white elephants before Mihin.

    Must have learnt from the Canadians, it’s always better to be fourth.

    • 8
      0

      ‘Well, on the other hand, almost no Airline Makes money these days’

      Delta, Emirates, Singapore, BA, Virgin, Thai, Korean, Etihad, Qatar, Fly Dubai, JAL, Cathay, Lufthansa are a few to name which make profit.

      Even FedEx is making huge profit, simply because these Airlines/carriers are run my professionals, and not by a naaki-vise embalmed Brother in Law.

      There are NO name sake Airlines either.
      Rajpaksas are not capable to run a ‘Bulath kade’ to begin with.

    • 2
      0

      “Ryanair reveals record profits

      Budget airline Ryanair soared to record-breaking heights in the third quarter of last year, figures from the no-frills company showed today.

      During the period to the end of December, the Irish-owned carrier recorded its highest passenger traffic totals and profit growth.

      Passenger numbers went up by 46% throughout the three months, to 3.9 million, following an 8% cut in fares, including a million free seats promotional offer in October.

      Revenues increased by 37%, while operating costs dipped by 28%.

      The airline said today: “As a result, Ryanair’s revenues after tax margins, during the worst quarter in the year, increased from 21% to 23%, and net profit increased by 50% to £28.5 million (43.2 million euros).

      Today’s figures capped a spectacular few days for Ryanair.

      At the end of last week, it made its first rival airline acquisition, buying low-fare Buzz from the Dutch carrier KLM for £15 million (23 million euros) and soon afterwards confirmed the purchase of 100 Boeing 737-800 jets at a book value of £3.6 billion (5.5 billion euros).

      Chief executive Michael O’Leary said of today’s returns: “These are another good set of numbers which result from the disciplined way we are rolling out our low fares all over Europe.

      “They again highlight the difference between Ryanair and other so-called ‘low fare’ carriers in Europe. We continue to earn increasing profits even during the winter period when others have confirmed that they will suffer losses”

      http://www.mail.co.uk

  • 9
    0

    Mihin Air was created to swindle money from EPF and ETF
    which are only retirement funds for most of the private sector
    workers. These are the two funds(other than NSB funds)
    left in SL that Rajapakshas can not have direct access to.
    They found two different ways to
    rob these money under the pretext of “investments for greater
    good of the country”. One being creation of Mihin Air, appointing
    well known fraudster Sajin Vass Gunawardena as the head
    of the project. A few years later, while country is loosing billions
    year after year, Sajin Vass became a proud owner of a fleet of helicopters who
    couldn’t even make lease payments for his vehicle in 2004 and late Baharatha helped him
    to get a grace period for payments from the leasing company.

    The other method was to use these funds to ” pump up ” certain
    stocks purchased by Rajapaksha cronies in the stock market which
    they dumped at a inflated price thereby making billions and in return
    financing Rajapakshas in so many different ways including creating
    “God like” and “saviour of the nation” image for MR and GR using media
    companies that they started with this filthy money(I.e.Hiru, Derana).

    This is just one more example of Rajapaksha Patriotism.

  • 4
    1

    Look at the Perethaya’s face in the picture. Look at the eyes. He looks high on drugs.

  • 3
    0

    It is a pity that Institutes like the WB, IMF etc did nothing to curb such
    repeated losses via their Regulations in granting Loans, which they continue
    to grant for their own benefit. The Parliament too has lost its Financial
    Control of State Funds and COPE can only issue Review Statements a couple
    years down the line. The misuse of EPF/ETF funds is legendary, since 2010.
    No one dare ask for the UDA Audited A/cs.
    MR and his Miracle-of-Asia is in the making!

  • 4
    0

    The bugger who benefited most from mihin lanka was the first chairman,Sachin de vass gunewardena , the crook of a Trico/Dubai wharf clerk.He now own a fleet of helicopters . Only a few years ago the fellow could not pay even Rs. 6850/- the monthly sum due to. Finance his Volvo car.The bugger spent 3 months at welikada prison for playing out his former father in law who took him to courts in a criminal case.
    Sachin the grade 8 educated fellow is today is in charge of Sri Lanka foreign policy!!!!! What for telling aney..Ohoma yang putha.

  • 2
    0

    these , uneducated crooks in the parliament voted in by you fools that are voting them in to parliament, his is the results you get, learn your lessons and dot vote petty thieves in to parliament, i had high hopes for MR, but no more , is MR deaf or what ???

  • 0
    0

    Seriously, I like to know if Mihin Lanka have a good safety record? Anyone, please.

  • 0
    0

    COPE has 2 main purposes.
    One is to shift blame from rogue ministers (who are brother parliamentarians)to lower down officials. Opposition MPs and the Media oblige unstintingly to do this.
    Second and main purpose is to hide Govt losses inside Corporate books and keep them off the Treasury balance sheet. Auditor General connives with the Treasury to do this.

Leave A Comment

Comments should not exceed 200 words. Embedding external links and writing in capital letters are discouraged. Commenting is automatically disabled after 7 days and approval may take up to 24 hours. Please read our Comments Policy for further details. Your email address will not be published.