Sri Lanka’s Finance ministry to fund halted projects in Colombo

June 5, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake yesterday said that the government will allocate 1,296 million rupees for 390 projects in the Colombo District which were halted due to lack of funding.

“These projects should have been completed last year. But the government has not given funds,” Karunanayake told LBO.

“So now we have to provide finance for these projects to be completed,”

“It was revealed today that they have promised to give money but not given. Now there is a crisis,”

“We, the new government will allocate money for past sins.”

These funds will be utilized only for the development projects which were started last year and completed up to 25 percent and for projects which come under public concerns.

The minister said, the projects should be completed within 100 days without dragging it for months.

The projects with agreements but did not commence work last year will not get funds, Karunanayake said.

The former government had given 3000 million rupees to Colombo District Development Committee from which estimated 4000 million rupees to develop 751 projects in Colombo District.

However only 362 projects has been completed last year.

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7 years ago

Do we have enough money for this or is govt offering a another bond to raise money ?

7 years ago

Get Low interest loans and do the rest.. Stoping development is not a option.. if you are oposing something you must have solution

7 years ago

Well they are already doing it