Ministry Probes Irregularities in Sevana Fund

COLOMBO (News 1st); The Ministry of Urban Development and Housing has announced the initiation of an investigation into numerous irregularities associated with the Sevana Fund. 

Established in the 1980s, the fund was intended to finance the construction of homes for low-income earners and the homeless.

However, the Ministry revealed that an audit has uncovered that, between 2017 and 2019, funds were diverted from their intended purpose to other activities. 

Notably, the audit found instances where the fund's money was spent on constructing health centers and stupas.

The Ministry stated that such misuse of the Sevana Fund, which was specifically set up to build homes for the homeless, is unacceptable. 

Consequently, a thorough investigation is underway, and stringent actions will be taken against those responsible.