After wasting millions of rupees of public money in a failed bid to win the status of host country for the Commonwealth Games in 2011, the present government is eyeing it for the second time in 10 years.
It has been estimated that Sri Lanka has spent between LKR 300 million and LKR 400 million on Sri Lanka’s bid process at that time
The Times of India reported a figure of USD 2.3 million. Another news report put the figure at between USD 7 to 8 million.
However, according to the latest report of the Auditor General, a sum of LKR 689.9 million in financial losses had been made in the money collected from local donors for obtaining the hospitality of the Commonwealth Games in 2018 as the money was not utilised efficiently and effectively.
It has been reported that large donations have been received from Sri Lankan financial institutions, private sector companies and leading businessmen towards meeting the expenses of the Bid Committee and the preparation of the proposal during the then Rjapaksa regime.
The bid was promoted as an attempt to rebuild this tsunami-devastated town, building a completely new International Sports City, international class hotels and an international airport, on a green field site, in seven years, using taxpayers’ money through State revenue and private donations from businesses.
Representatives from sports organisations in the Commonwealth were invited to Sri Lanka, extensively and expensively entertained, all state agencies, the armed forces, non state institutions, etc., threw their weight behind the promotional extravaganza.
The then government had underwritten the total cost estimate, saying it would fill the shortfall if necessary.
In the second attempt also under the present Rajapaksa regime, Sri Lanka has emerged as a potential bidder for the 2026 Commonwealth Games, at a time when efforts to stage the event in Hamilton, Canada have stalled.
The National Olympic Committee of Sri Lanka (NOCSL) - which also organises the country's participation in the Commonwealth Games - is planning a bid for the 2026 Games.
"Sri Lankan city Hambantota bid for the 2018 Commonwealth Games, but lost to Gold Coast in Australia by 43 votes to 27.
The then Ministry of Sports has taken measures in the year 2010 to obtain the hospitality of the 2018 Commonwealth Games in Sri Lanka.
According to a special audit report, a state-owned company called CWG 2018 (private) had been incorporated for the execution, implementation and presenting bids of the procurement process.
It was expected that the then Government would hold 51 per cent of the company's share capital and 49 per cent by public institutions.
Accordingly, LKR 110 million from the initial capital had been provided by the Ministry of Sports and the General Treasury, while LKR 18 million from the Sri Lanka Export Development Board (EDB) and Sri Lanka Telecom (SLT) at that time.
In addition to that, actions had been taken to obtain cash grants from private organisations and individuals.
Even though the company had been incorporated by raising a sum of Rs. 689.9 million, the hosting of the Games was not received by Sri Lanka.
Further, it was observed that the money which was provided was not properly monitored and spent without much transparency and financial control that the administration activities of the company were not also compliant with the relevant rules and according to the books, bills, various documents, interviews and statements.
Leave your comments
Login to post a comment
Post comment as a guest