SriLanka, Sept. 10 -- It has been revealed at the Special Presidential Commission of Inquiry (SPCoI) investigating allegations of fraud and corruption in coal transactions and power generation that the State incurred a loss of US$ 1,575,630 in the purchase of coal for the Norochcholai Lakvijaya Power Plant during 2015-2016, when President's Counsel Maithri Gunaratne served as Chairman of the Lanka Coal Company.

Testifying before the Commission, former Power and Renewable Energy Ministry Additional Secretary D.Amaratunga stated that the loss resulted from subsequent changes made to the terms of the agreement originally entered into between the Lanka Coal Company and Liberty Commodities for coal imports.

He further explained that a major ...