Prime Minister Dinesh Gunawardena stressed the need for case studies on major power projects to prevent under utilization of capacity.
Addressing the AICPA and CIMA Convocation 2024, he said qualified chartered global management accountants have an important role as future business leaders of the country.
Recalling that the Victoria hydroelectricity project completed 40 years ago was the most expensive plan undertaken by the country, he said that its power generation is only 80% of the full capacity.
“If the full capacity was used it could have saved a vast amount of money now spent for high cost power generation from diesel or coal,” he said.
That means 20% is underutilized by us. That shows the capacity of hydroelectricity is reduced by 20% and 20 water performance is reduced by 20%. But the question is what has replaced that reduced 20% of electricity production. Economically, environmentally, sustainability wise it should be emphasized the lack of serious audits performance for years that has passed with this project.”
Sri Lanka hosts the second largest community of CGMA qualified members and students in the world, just after The United Kingdom. As you are aware, our government headed by President Ranil Wickremesinghe has a plan to deliver prosperity to our citizens through progressiveeconomic advancement by 2048.
“We strongly believe with the development of creative and human capital, we will be able to achieve that target of elevating our economy to the state of a rich country by our 100th anniversary of independence.”
The Prime Minister said that CIMA members known as Chartered Global Management Accountants (CGMAs) are held in great esteem by employers and the general public for the trust they’ve created and their abilities in adding value to organizations – be they in the private or public sector.
“Those who have joined the CIMA community have proved themselves to be first class finance and business professionals with the potential to become the business leaders of the future.”
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