JVP, THE RICHEST POLITICAL PARTY

Financial records of eight political parties released by the Elections Commissioner through a RTI request put forward by Transparency International Sri Lanka (TISL), has shown the Janatha Vimukthi Peramuna (JVP) to be the most financially secure and asset rich party among the main political parties. TISL has released financial records for the parties; JHU, SLMC, JVP, SLFP, UNP, CWC, ITAK and UPFA.

According to the financial statement released on the TISL website, the JVP had earned a total income of Rs 87,196, 322 as of 31 December 2015. Their main source of income is derived from the JVP practice of having all its members in Parliament, local government and provincial councils donating their salaries to the party. Though the expenditure for that year stood at Rs 79,230, 583, the party managed very well to be left with a net income of Rs 22, 080, 056. It has also declared assets worth Rs 190,318,056.

Interestingly the party’s records also show that MPs contributions through the sale of their vehicles was also a major source of income to the party, with the party raking in more money, in the years where their MPs contributed from such a sale. In 2015, they earned Rs 10,900,000 from the sale of MP vehicles and in 2013, they earned, Rs 24,825,000 from it. These were profitable years for the party while in 2014, their income dropped as there was no income from MP vehicles.

The UNP did well during the election year of 2015 with a total income of Rs 36,317,486, the income growing remarkably compared to 2014 where it was at Rs 19, 304, 261. Overall ,however, the party seems to be maintaining a total income between Rs 23-27 million.

The UNP’s assets as of 31 March 2016 stood at Rs 6,283, 083 according to the auditors while in 2015 it was at Rs 13, 481, 762. The SLFP in the meantime earned a higher income in the first three months of 31 March 2016 than in the 12 months of 2015. The auditors had noted that they were not able to calculate accurately the assets of the SLFP as the party had not reassessed the value of many of their properties recently.

The UPFA according to their financial records did not receive any income in the first three months of 2016 (records only available until 31 March 2016) and has been surviving on a government donation of Rs 2,423,194 given in 2015. In 2015, the UPFA used Rs 1,732,301 of that donation for election purposes.

The SLMC in the meantime has survived on donations from SLMC MPs at all levels of government and only showed Rs 1,845,000 as total income from 16 June 2014 to 31 October 2015.

The CWC, another resource rich party had donations from many quarters; with its member subscriptions making up its main source. Its total income in 2015-2016 was recorded at Rs 115,611,663 while in 2014-2015 it had collected a total income of Rs 132,770,125. The auditors here noted that there were certain discrepancies in the member subscription fees of the CWC and the party had failed to provide them with a complete list of members and how much they had contributed ,for audit purposes. The JHU with its minimalistic accounting, showed that as of 31 December 2015 it had a net income of Rs 1,851,133, with a total income being Rs 4,297,948. It was interesting to note that Minister Champika Ranawaka’s ‘salary donations’ of Rs.213,880 was listed as one of the main contributions to the party’s income.

(Source: Daily News)