No Official Auditing Conducted for Sri Lanka Youth Services (Pvt) Ltd Since 1981 – Billions of Rupees Vanished Into Thin Air

-By Political correspondent

(Lanka-e-News -24.March.2025, 11.10 PM) In a revelation that could make even the most seasoned con artists blush, the Committee on Public Enterprises (COPE) has unearthed a financial black hole at Sri Lanka Youth Services (Pvt) Ltd, a subsidiary of the National Youth Services Council. Apparently, the organization's books have been untouched by official auditors since 1981—yes, you read that correctly. While the rest of the world was inventing the internet, launching space stations, and developing artificial intelligence, this state-run institution remained frozen in time, blissfully free of pesky accountability.

What’s worse? The missing billions have left foreign donors and debtors scratching their heads harder than contestants on a rigged game show. Where did all the money go? Perhaps it slipped through the same magical portal that swallows odd socks in the laundry.

COPE’s Greatest Hits: Exposing the Vanishing Act

At a recent COPE Sub-Committee meeting chaired by MP Chandima Hettiarachchi, officials were grilled over some eyebrow-raising financial wizardry. The most spectacular trick? Sri Lanka Youth Services (Pvt) Ltd registering as a supplier and submitting price quotations to its own parent company at inflated rates. It’s like borrowing money from your left pocket and charging your right pocket interest.

The matter came to light when COPE reviewed the Auditor General’s reports for 2022 and 2023, along with the Council’s efforts—or rather, lack thereof—to implement previous recommendations. Among the jaw-dropping findings was a mind-boggling Rs. 120 million payment for video footage related to the “Smart Youth” program. The footage was handed over, but the costs were as bloated as a snake after swallowing an elephant.

But wait, it gets better! The program, which was supposedly backed by a comprehensive survey, turned out to have no such survey at all. Perhaps officials were relying on the time-honored tradition of “we just felt like it.” COPE’s response? A directive for an independent investigation and a comprehensive report within three months. Considering the council’s track record, they might need divine intervention to make that deadline.

Musical Chairs with Public Funds

Among the litany of financial acrobatics uncovered was the case of compensation payments to 40 officials who had apparently suffered from “political complications.” Instead of the single committee instructed by the Cabinet, the Council took it upon itself to form three separate committees. Why have one when you can have three times the inefficiency?

The Sub-Committee has now demanded a full report within two weeks, listing names, amounts paid, approval dates, and, most importantly, the identities of the masterminds behind these questionable payouts. If history is anything to go by, expect a series of “I don’t recall” responses in the upcoming hearings.

A Diploma in Deception?

As if COPE hadn’t already unearthed enough absurdity, there was also the curious case of the diploma awarded by the National Youth Services Co-Operative Society Ltd (NYSCO). Strangely enough, the National Youth Services Council had no involvement in the diploma, making it about as legitimate as a university degree bought off the internet.

To add another layer of intrigue, NYSCO had quietly slipped out of the Council’s control, much like a rebellious teenager sneaking out past curfew. Meanwhile, the age limit for appointing NYSCO’s General Manager had been raised from 35 to 50 years. It seems that experience is no longer optional—it’s a requirement for keeping skeletons buried in the closet.

The Aftermath: A Comedy of Errors

The Sub-Committee, evidently exasperated but determined, instructed the Ministry Secretary to summon NYSCO’s top brass for an inquiry. The National Youth Services Council was also tasked with cleaning up its act, lest it continue being the corporate equivalent of a haunted house filled with financial ghosts.

On top of everything, the meeting emphasized the need for the timely submission of annual reports and financial statements. It’s a bold move considering the Council’s longstanding resistance to such radical concepts as accountability.

The Bigger Picture: What Happens Next?

While COPE’s efforts to bring transparency are commendable, the real question remains: will anyone be held accountable? In some countries, corruption of this magnitude would warrant swift justice, if not a firing squad. In Sri Lanka, however, the worst offenders often manage to retire comfortably, perhaps even offering seminars on “How to Disappear Billions Without a Trace.”

One thing is certain—Sri Lanka Youth Services (Pvt) Ltd has redefined financial mismanagement. With billions of rupees missing, one can only hope that the upcoming investigations yield results and not just another chapter in the country’s ever-expanding saga of political absurdity.

For now, all we can do is watch, wait, and hope that this isn’t just another case of public funds vanishing faster than a politician’s promise after an election. Stay tuned!

-By Political correspondent

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by     (2025-03-24 17:52:12)

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