Be the First to Know

lanka matrimony

PM needs continuous audit study to avoid under utilization of power project capacity

0 0

 

Prime Minister Dinesh Gunawardena stressed the need for case studies on major power projects to prevent under utilization of capacity. Addressing the AICPA & CIMA Convocation 2024, he said qualified chartered global management accountants have an important role as future business leaders of the country.

Recalling that Victoria hydroelectricity project completed 40 years was the most expensive plan undertaken by the country, he said that it’s power generation is only 80% of the full capacity. If the full capacity was used it could have saved vast amount of money now spent for high cost power generation from diesel or coal, he said.

The Prime Minister said that CIMA members known as Chartered Global Management Accountants (CGMAs) are held in great esteem by the 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 and added that the young graduates should  make such serious studies in line with CIMA’s motto, ‘Honesty, Accuracy and Justice

CIMA International President Sarah Ghosh, Country Manager of AICPA & CIMA, Zahara Ansary, Immediate past president Melanie Kanaka, graduates and parents attended the Convocation.

Full speech delivered by Prime Minister Dinesh Gunawardena at the AICPA&CIMA Convocation 2024

It gives me great pleasure to be at this event, where a group of youths, armed with a highly recognized CIMA qualification enter into the professional world.

As has been informed to me, Sri Lanka hosts the second largest community of CGMA qualified members and students in the world, just after The United Kingdom. It is indeed a proud achievement and a wonderful community that you will be joining.

CIMA members known as Chartered Global Management Accountants (CGMAs) are held in great esteem by the 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.

As you are aware, our government headed by President Ranil Wickremesinghe has a plan to deliver prosperity to our citizens through progressive economic 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.

I am made aware that the syllabus you’ve followed is rigorous and demanding. 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.

Hence, my warmest congratulations’ to all of you who are graduating today!

Today over a 350 of you are being recognised, including prize winners who have achieved global ranks. You are the pride of our nation. Sri Lanka needs you and your talent to help us wade through the challenges and obstacles, while proceeding on the path of progress. From financial crisis to geopolitical turbulences, you are the ones who will enable us to create a sustainable and progressive future for Sri Lanka.

 

A growing number of organizations around the world are recognizing that the unique skills and insight provided by Chartered Management Accountants have become an essential part of the business toolkit. Your members are not only the best management accountants at par with global standards but they also work with an adherence to integrity that is essential if businesses are to prosper in the long term.

 

Out of thousands of you should be case studies for which I would like to draw your attention. I would like to highlight Victoria reservoir in our country which has completed 40 years before with assistance from Uk as a great success. It has stood as the most expensive venture in Sri Lanka for nearly 3 decades. Today irrigation specialists highlight that the current capacity of Victoria reservoir is less than 80%.That means 20% is underutilized by us. That shows the capacity of hydroelectricity is reduced by 20% and20 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. This is only one example. CIMA’s motto is honesty, accuracy, justice. CIMA members should contribute to the future of the organisations. We will be call upon to service on private sector and the public sector. Whenever such opportunities come on your way and adhere to the CIMA motto utilize your skills to become business partners and navigators in steering the business through challenges. Finally I wish you all the success in your future careers. Thank you for having a chance to be with you

.

 

The post PM needs continuous audit study to avoid under utilization of power project capacity appeared first on DailyNews.

Leave A Reply

Your email address will not be published.