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Sri Lanka approves funds for reservoirs and Southern roads
Jun 08, 2016 (LBO) – Sri Lanka’s cabinet has approved several reservoir and road development projects including the lower MalwathuOya reservoir and roads under the Southern transport projects.
“The proposed lower MalwathuOya reservoir project will directly benefit people in Anuradhapura, Vavuniya, and Mannar districts and will facilitate 12,425 hectares of land under the Yoda Wewa and Agathimuruppu irrigation scheme in Mannar district to be cultivated in both Yala and Maha seasons,” a statement on cabinet decisions said.
“The Environmental Impact Assessment report and the Archaeological Assessment report are being reviewed and 160 low income families are being planned to be resettled.”
The cabinet proposal was made by Wijith Wijayamuni Zoysa, minister of irrigation and water resources management and Duminda Dissanayake, minister of agriculture.
Under the Southern transport development project construction of road section from Pinnaduwa to Kodagoda (from 30.80 km to 45.00 km) was approved.
Eleven regional roads are being rehabilitated with the balance loan amount granted by the China Exim Bank for the construction work of section from Pinnaduwa to Godagama of the Southern Expressway, the statement said.
“As there is a limited period for the expiry of loan amount, the proposal made by Lakshman Kiriella, Minister of higher education and highways, to manage required funds for immediate rehabilitation of these roads, was approved by the Cabinet of Ministers.”
- http://www.lankabusinessonline.com/sri-lanka-approves-funds-for-reservoirs-and-southern-roads/
Jun 08, 2016 (LBO) – Sri Lanka’s cabinet has approved several reservoir and road development projects including the lower MalwathuOya reservoir and roads under the Southern transport projects.
“The proposed lower MalwathuOya reservoir project will directly benefit people in Anuradhapura, Vavuniya, and Mannar districts and will facilitate 12,425 hectares of land under the Yoda Wewa and Agathimuruppu irrigation scheme in Mannar district to be cultivated in both Yala and Maha seasons,” a statement on cabinet decisions said.
“The Environmental Impact Assessment report and the Archaeological Assessment report are being reviewed and 160 low income families are being planned to be resettled.”
The cabinet proposal was made by Wijith Wijayamuni Zoysa, minister of irrigation and water resources management and Duminda Dissanayake, minister of agriculture.
Under the Southern transport development project construction of road section from Pinnaduwa to Kodagoda (from 30.80 km to 45.00 km) was approved.
Eleven regional roads are being rehabilitated with the balance loan amount granted by the China Exim Bank for the construction work of section from Pinnaduwa to Godagama of the Southern Expressway, the statement said.
“As there is a limited period for the expiry of loan amount, the proposal made by Lakshman Kiriella, Minister of higher education and highways, to manage required funds for immediate rehabilitation of these roads, was approved by the Cabinet of Ministers.”
- http://www.lankabusinessonline.com/sri-lanka-approves-funds-for-reservoirs-and-southern-roads/
US$90mn Exim Bank loan for Sri Lanka expressway extension consultancy
Jun 09, 2016 08:55 AM GMT+0530
ECONOMYNEXT – Sri Lanka is to borrow almost $90 million from Exim Bank of China to fund a consultancy contract to supervise the construction of civil works on the extension of the Southern Expressway.
Cabinet approval for the soft loan proposed by Finance Minister Ravi Karunanayake was given this week, government spokesman Media Minister Gayantha Karunatilleke said.
The expressway extension work is being done in four sections by the Chinese railway builder, China Railway First Survey & Design Institute Group Co. Ltd., under a commercial contract signed with the Road development Authority.
The interest rate of the proposed loan will be fixed at 2 percent a year with a 20-year repayment period including a grace period of 5 years.
Jun 09, 2016 08:55 AM GMT+0530
ECONOMYNEXT – Sri Lanka is to borrow almost $90 million from Exim Bank of China to fund a consultancy contract to supervise the construction of civil works on the extension of the Southern Expressway.
Cabinet approval for the soft loan proposed by Finance Minister Ravi Karunanayake was given this week, government spokesman Media Minister Gayantha Karunatilleke said.
The expressway extension work is being done in four sections by the Chinese railway builder, China Railway First Survey & Design Institute Group Co. Ltd., under a commercial contract signed with the Road development Authority.
The interest rate of the proposed loan will be fixed at 2 percent a year with a 20-year repayment period including a grace period of 5 years.
Chinese funds to upgrade 11 Sri Lankan roads linking southern expressway
Jun 09, 2016 06:31 AM GMT+0530
ECONOMYNEXT – Sri Lanka is to use savings from a Chinese loan to build a section of its Southern Expressway to improve 11 roads connecting to the expressway, government spokesman Media Minister Gayantha Karunatilleke said.
Eleven local roads are being rehabilitated with the balance loan amount from China’s Exim Bank, taken for the construction work of the southern section of the Southern Expressway from Pinnaduwa to Godagama, he told a news conference.
As the loan had to be used before it expires on June 30, 2016, the Cabinet of Ministers approved a proposal made by Lakshman Kiriella, Minister of Higher Education and Highways, to release funds to pay the contractor, he said.
According to the highways ministry, the 11 roads had been selected based on their connectivity to the Southern Expressway and on requests made by a large number of area residents.
Savings of Rs2.8 billion are available from the loan from Exim Bank of China.
Jun 09, 2016 06:31 AM GMT+0530
ECONOMYNEXT – Sri Lanka is to use savings from a Chinese loan to build a section of its Southern Expressway to improve 11 roads connecting to the expressway, government spokesman Media Minister Gayantha Karunatilleke said.
Eleven local roads are being rehabilitated with the balance loan amount from China’s Exim Bank, taken for the construction work of the southern section of the Southern Expressway from Pinnaduwa to Godagama, he told a news conference.
As the loan had to be used before it expires on June 30, 2016, the Cabinet of Ministers approved a proposal made by Lakshman Kiriella, Minister of Higher Education and Highways, to release funds to pay the contractor, he said.
According to the highways ministry, the 11 roads had been selected based on their connectivity to the Southern Expressway and on requests made by a large number of area residents.
Savings of Rs2.8 billion are available from the loan from Exim Bank of China.
Modi and Sirisena will jointly open renovated Jaffna stadium
Indian Prime Minister Narendra Modi and Sri Lankan President Maithripala Sirisena will jointly inaugurate the renovated Duraiappah Stadium in Jaffna through video conferencing on June 18, Indian officials told Express on Wednesday.
While Modi will speak from India, Sirisena will speak from Jaffna, where he would be the Chief Guest at the gala opening ceremony.
A landmark in Jaffna town, the Duraiappah stadium has been renovated over the last two years by the Lankan company Wahid Constructions, with an Indian government grant of LKR 145 million.
Apart from renovating the main and secondary pavilions, a gymnasium has been built. A playground with a 400 meter track has been laid, and floodlights have been put up. Adequate sanitary and garbage disposal facilities have also been installed.
When it is thrown open to the public, the primary beneficiaries will be the 50,000 school students in the Jaffna peninsula ,who had lacked sports facilities for 30 years because of the war. (New Indian Express)
Indian Prime Minister Narendra Modi and Sri Lankan President Maithripala Sirisena will jointly inaugurate the renovated Duraiappah Stadium in Jaffna through video conferencing on June 18, Indian officials told Express on Wednesday.
While Modi will speak from India, Sirisena will speak from Jaffna, where he would be the Chief Guest at the gala opening ceremony.
A landmark in Jaffna town, the Duraiappah stadium has been renovated over the last two years by the Lankan company Wahid Constructions, with an Indian government grant of LKR 145 million.
Apart from renovating the main and secondary pavilions, a gymnasium has been built. A playground with a 400 meter track has been laid, and floodlights have been put up. Adequate sanitary and garbage disposal facilities have also been installed.
When it is thrown open to the public, the primary beneficiaries will be the 50,000 school students in the Jaffna peninsula ,who had lacked sports facilities for 30 years because of the war. (New Indian Express)
‘Several expressway projects to resume on purse-easy terms’
By Hiran H.Senewiratne
Lack of national planning during the tenure of the last MR regime caused severe damage to the economy as a result of implementing projects, such as, the Hambantota port and Mattala airport. In these projects, costs were high and internal returns or return on investment (ROI) to the country were lacking, Finance Minister Ravi Karunanayake said. He added that the government is planning to resume several expressway projects by raising loans on very concessional terms, in contrast to the former regime.
"Getting commercial loans are the easiest today, but getting them at 6 percent to 7 percent is damaging. As a result, the burden has been passed on to all of you who are the taxpayers of this country and the hard earned profits of institutions like the Sri Lanka Ports Authority (SLPA) are used to set off these debts, which are incurred by institutions which are not even generating a revenue of Rs.3 million a month despite their investment which is as high as Rs.58 billion, Minister Karunanayake said. He was speaking at the first Founder's Day oration of the Institute of Certified Management Accountants of Sri Lanka (CMA), which was held last week at HNB towers, Colombo. The title of the talk was ‘National Government Towards a National Economy.'
He said the government in now planning to resume the construction of expressways, namely, Southern and Colombo- Kandy, by raising loans at concessional rates, not on high interest rates, like the previous government.
Citing an example, the minister said that within the past 16 months the government had given approvals for three major expressway projects and has saved 21 percent of the cost, compared to the costs incurred by similar projects the previous regime had signed up for during the past 6 to 7 years.
"Today the Organisation for Economic Co-operation and Development (OECD) had its Ministerial Council Meeting (MCM). OECD helps governments to tackle the economic, social and governance challenges of a globalised economy, he said.
He said Sri Lanka stands at 6th position in OECD rankings and if we can get into third or fourth position we could save up to 8 percent to 9 percent in our cost of interest.
"The government’s foreign policy is to be allies with everyone and best examples were the invitation to G7, EU fishery ban lift and GSP+ which will have positive results within the next 100 days, he added.
In addition, Karunanayake said the Monetary Act, the Banking Act and the Exchange Control Act will see some significant changes in the next three weeks.
He said the government expects 13.8 percent to 14 percent revenue to GDP by end of the year, which is currently at 12.9 percent.
"The revenue has increased significantly during the past 16 months. During the previous regime the revenue to GDP was around 10
percent to 11 percent. Excise Department revenue has increased by 5 percent, while Customs has gone up by 35 percent due to the government's prudent policies, the minister added.
- http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=146460
By Hiran H.Senewiratne
Lack of national planning during the tenure of the last MR regime caused severe damage to the economy as a result of implementing projects, such as, the Hambantota port and Mattala airport. In these projects, costs were high and internal returns or return on investment (ROI) to the country were lacking, Finance Minister Ravi Karunanayake said. He added that the government is planning to resume several expressway projects by raising loans on very concessional terms, in contrast to the former regime.
"Getting commercial loans are the easiest today, but getting them at 6 percent to 7 percent is damaging. As a result, the burden has been passed on to all of you who are the taxpayers of this country and the hard earned profits of institutions like the Sri Lanka Ports Authority (SLPA) are used to set off these debts, which are incurred by institutions which are not even generating a revenue of Rs.3 million a month despite their investment which is as high as Rs.58 billion, Minister Karunanayake said. He was speaking at the first Founder's Day oration of the Institute of Certified Management Accountants of Sri Lanka (CMA), which was held last week at HNB towers, Colombo. The title of the talk was ‘National Government Towards a National Economy.'
He said the government in now planning to resume the construction of expressways, namely, Southern and Colombo- Kandy, by raising loans at concessional rates, not on high interest rates, like the previous government.
Citing an example, the minister said that within the past 16 months the government had given approvals for three major expressway projects and has saved 21 percent of the cost, compared to the costs incurred by similar projects the previous regime had signed up for during the past 6 to 7 years.
"Today the Organisation for Economic Co-operation and Development (OECD) had its Ministerial Council Meeting (MCM). OECD helps governments to tackle the economic, social and governance challenges of a globalised economy, he said.
He said Sri Lanka stands at 6th position in OECD rankings and if we can get into third or fourth position we could save up to 8 percent to 9 percent in our cost of interest.
"The government’s foreign policy is to be allies with everyone and best examples were the invitation to G7, EU fishery ban lift and GSP+ which will have positive results within the next 100 days, he added.
In addition, Karunanayake said the Monetary Act, the Banking Act and the Exchange Control Act will see some significant changes in the next three weeks.
He said the government expects 13.8 percent to 14 percent revenue to GDP by end of the year, which is currently at 12.9 percent.
"The revenue has increased significantly during the past 16 months. During the previous regime the revenue to GDP was around 10
percent to 11 percent. Excise Department revenue has increased by 5 percent, while Customs has gone up by 35 percent due to the government's prudent policies, the minister added.
- http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=146460
Access Engineering nearing completion of Vavuniya-Horowpathana Road rehabilitation
Access Engineering PLC, keeping abreast of the national objective towards establishing normalcy in the conflict afflicted areas in the Northern and Eastern provinces through good road geometrics is rehabilitating 11 km road section from Vavuniya (5+000 km) towards Kebithigollewa (16+000 km) of Vavuniya-Horowpathana (A029) Road.
This section of the A029 road, which traverses across residential areas as well as Karunkalikulam Forest Reserve, was identified as an important road section to be rehabilitated in order to increase the transportation efficiency within Kebithigollewa Town and also between Kebithigollewa and Vavuniya. Additionally this road section being one of the main roads to connect Kandy-Jaffna (A009) and Puttalum-Anuradhapura-Trincomalee (A012) roads, it was proposed to be improved in to a two-lane carriageway under the patronage of additional Financing of Asian Development Bank towards the Northern Road Connectivity Project.
Under the scope of this project, 3.1 m carriageway is rehabilitated along with 1m wide hard and soft shoulders across 11km long road section. The project also includes rehabilitation of road drainage infrastructure (27 nos of culverts) and junction improvement works which consist of rehabilitating 1 km road section in Vayuniya township, 3.5 m carriageway with 1.5 m footpath on either side of the carriageway and adequate parking where necessary.
“In the working sections of the road, appropriate measures are taken to minimise the disturbances occurring to the road side residents. Once completed in June 2016 the road will significantly reduce the travel time while gradually spurring industrial development along the corridor,” said Project Manager of the Rehabilitation of Vavuniya- Horowpathana Road Project Sasanka Weerakoon.
- http://www.ft.lk/article/546970/Acc...-of-Vavuniya-Horowpathana-Road-rehabilitation
Access Engineering PLC, keeping abreast of the national objective towards establishing normalcy in the conflict afflicted areas in the Northern and Eastern provinces through good road geometrics is rehabilitating 11 km road section from Vavuniya (5+000 km) towards Kebithigollewa (16+000 km) of Vavuniya-Horowpathana (A029) Road.
This section of the A029 road, which traverses across residential areas as well as Karunkalikulam Forest Reserve, was identified as an important road section to be rehabilitated in order to increase the transportation efficiency within Kebithigollewa Town and also between Kebithigollewa and Vavuniya. Additionally this road section being one of the main roads to connect Kandy-Jaffna (A009) and Puttalum-Anuradhapura-Trincomalee (A012) roads, it was proposed to be improved in to a two-lane carriageway under the patronage of additional Financing of Asian Development Bank towards the Northern Road Connectivity Project.
Under the scope of this project, 3.1 m carriageway is rehabilitated along with 1m wide hard and soft shoulders across 11km long road section. The project also includes rehabilitation of road drainage infrastructure (27 nos of culverts) and junction improvement works which consist of rehabilitating 1 km road section in Vayuniya township, 3.5 m carriageway with 1.5 m footpath on either side of the carriageway and adequate parking where necessary.
“In the working sections of the road, appropriate measures are taken to minimise the disturbances occurring to the road side residents. Once completed in June 2016 the road will significantly reduce the travel time while gradually spurring industrial development along the corridor,” said Project Manager of the Rehabilitation of Vavuniya- Horowpathana Road Project Sasanka Weerakoon.
- http://www.ft.lk/article/546970/Acc...-of-Vavuniya-Horowpathana-Road-rehabilitation
Sri Lanka to expedite Chinese-funded projects
June 10, 2016 01:34 pm
The Sri Lankan government has decided to expedite development projects funded by China, the Ministry of National Policy and Economic Affairs has said.
The ministry said the decision was taken following talks held between a Chinese government delegation and State Minister of National Policy and Economic Affairs Niroshan Perera, reports Xinhua news agency.
Zhou Liujun, head of the Department of Outward Investment and Economic Cooperation of China’s Ministry of Commerce, met the state minister and discussed Chinese investments in Sri Lanka.
The State Ministry of National Policy and Economic Affairs said at the talks it was proposed to finalize a trade and economic pact between China and Sri Lanka.
- http://www.adaderana.lk/news/35624/sri-lanka-to-expedite-chinese-funded-projects
June 10, 2016 01:34 pm
The Sri Lankan government has decided to expedite development projects funded by China, the Ministry of National Policy and Economic Affairs has said.
The ministry said the decision was taken following talks held between a Chinese government delegation and State Minister of National Policy and Economic Affairs Niroshan Perera, reports Xinhua news agency.
Zhou Liujun, head of the Department of Outward Investment and Economic Cooperation of China’s Ministry of Commerce, met the state minister and discussed Chinese investments in Sri Lanka.
The State Ministry of National Policy and Economic Affairs said at the talks it was proposed to finalize a trade and economic pact between China and Sri Lanka.
- http://www.adaderana.lk/news/35624/sri-lanka-to-expedite-chinese-funded-projects
Japanese financial assistance under concessionary interests
President Maithripala Sirisena has won many direct investments and obtained funds at concessionary interest rates to develop Sri Lanka by attending the G7 summit in Japan.
Deputy Minister of Foreign Affairs Dr. Harsha de Silva pointed out the government of Japan lends a fund loan of Yen 38 billion to Sri Lanka for the infrastructure developments under an interest of 0.1 percent.
In addition, developing the infrastructures in Sri Lanka, the government of Japan has allocated USD 300 million under the same interest rate for the constructions of the new Kelani flyover and for another flyover from Welikada to Rajagiriya, which is connected to the above new Kelani flyover. The third phase of the central expressway will also be constructed by the Japanese government.
Deputy Minister said, “The GSP plus relief will be obtained in the nearby future after a few steps are fulfilled by the Sri Lankan government.” Receiving of the GSP plus relief will cause to increase the investments in Sri Lanka, to reduce the taxes imposed on the people, and to decrease the debt burden.
According to him, all the world leaders, who met the President Sirisena at the G7 has assured their extended support for Sri Lanka in this regard.
- http://www.news.lk/news/sri-lanka/i...cial-assistance-under-concessionary-interests
President Maithripala Sirisena has won many direct investments and obtained funds at concessionary interest rates to develop Sri Lanka by attending the G7 summit in Japan.
Deputy Minister of Foreign Affairs Dr. Harsha de Silva pointed out the government of Japan lends a fund loan of Yen 38 billion to Sri Lanka for the infrastructure developments under an interest of 0.1 percent.
In addition, developing the infrastructures in Sri Lanka, the government of Japan has allocated USD 300 million under the same interest rate for the constructions of the new Kelani flyover and for another flyover from Welikada to Rajagiriya, which is connected to the above new Kelani flyover. The third phase of the central expressway will also be constructed by the Japanese government.
Deputy Minister said, “The GSP plus relief will be obtained in the nearby future after a few steps are fulfilled by the Sri Lankan government.” Receiving of the GSP plus relief will cause to increase the investments in Sri Lanka, to reduce the taxes imposed on the people, and to decrease the debt burden.
According to him, all the world leaders, who met the President Sirisena at the G7 has assured their extended support for Sri Lanka in this regard.
- http://www.news.lk/news/sri-lanka/i...cial-assistance-under-concessionary-interests
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Planned investment amounting to Rs2b: Four major megapolis projects approved
By Chandani Jayatilaka
Four major development projects with planned investments of at least Rs 2 billion have been approved by the Megapolis project team for implementation, Chairman, Western Region Megapolis Planning Project, Ajita de Costa told the Sunday Observer.
The four projects identified by the team are: an elevated road system into metropolitan Colombo, a multi-modal commercial hub in Pettah, Colombo, an industrial zone in Mirigama and a comprehensive flood retention control system for the Kelani River.
“The four projects are ready for implementation and the next step would be to advertise the projects for investments,” de Costa said. The Cabinet appointed procurement committees will fast-track the investment process. The overall project costs are likely to be met with a mix of private and public investment.
Under the Megapolis master plan, Mirigama and Horana were proposed to be developed as industrial cities, as part of the overall drive to enhance the manufacturing component of the national economy, while generating direct and indirect employment opportunities. This will also lead to relocation of some of the existing industries.
The industrial zone at Mirigama is expected to be developed as a specialized zone for food processing, largely export-oriented, and based on the diverse variety of Sri Lankan and regional foods, thereby emerging as an important centre on the Asian culinary map.
The new industrial area will cover several small towns and villages in the Mirigama area and is expected to generate 35,000 new employment opportunities.
The ‘multi modal hub’ in Pettah envisages the development of a modern transport hub in Pettah, development of a unique shopping district along the Beira Lake utilizing the adjacent Sri Lanka Railways land, as a major landmark in downtown Colombo. Other components of the Pettah hub will be an entertainment district on the other side of the Beira Lake as another destination in downtown Colombo, a cruise centre at the old Colombo port area linking the new shopping district, the Fort heritage district and the Pettah bazaar district and, development of a commercial centre for all forms of Innovations with commercialization potential.
The Megapolis master plan also highlights the need for preserving natural flood retention areas within the planned sectors during the implementation of the master plan. This is to prevent encroachment of future real estate developments into these areas.
- http://www.sundayobserver.lk/2016/06/12/pol01.asp
By Chandani Jayatilaka
Four major development projects with planned investments of at least Rs 2 billion have been approved by the Megapolis project team for implementation, Chairman, Western Region Megapolis Planning Project, Ajita de Costa told the Sunday Observer.
The four projects identified by the team are: an elevated road system into metropolitan Colombo, a multi-modal commercial hub in Pettah, Colombo, an industrial zone in Mirigama and a comprehensive flood retention control system for the Kelani River.
“The four projects are ready for implementation and the next step would be to advertise the projects for investments,” de Costa said. The Cabinet appointed procurement committees will fast-track the investment process. The overall project costs are likely to be met with a mix of private and public investment.
Under the Megapolis master plan, Mirigama and Horana were proposed to be developed as industrial cities, as part of the overall drive to enhance the manufacturing component of the national economy, while generating direct and indirect employment opportunities. This will also lead to relocation of some of the existing industries.
The industrial zone at Mirigama is expected to be developed as a specialized zone for food processing, largely export-oriented, and based on the diverse variety of Sri Lankan and regional foods, thereby emerging as an important centre on the Asian culinary map.
The new industrial area will cover several small towns and villages in the Mirigama area and is expected to generate 35,000 new employment opportunities.
The ‘multi modal hub’ in Pettah envisages the development of a modern transport hub in Pettah, development of a unique shopping district along the Beira Lake utilizing the adjacent Sri Lanka Railways land, as a major landmark in downtown Colombo. Other components of the Pettah hub will be an entertainment district on the other side of the Beira Lake as another destination in downtown Colombo, a cruise centre at the old Colombo port area linking the new shopping district, the Fort heritage district and the Pettah bazaar district and, development of a commercial centre for all forms of Innovations with commercialization potential.
The Megapolis master plan also highlights the need for preserving natural flood retention areas within the planned sectors during the implementation of the master plan. This is to prevent encroachment of future real estate developments into these areas.
- http://www.sundayobserver.lk/2016/06/12/pol01.asp
New 4-year development strategy to be announced soon by govt.
By Jayampathy Jayasinghe
View(s):
Several new bills pertaining to the economy and the Monetary Act will soon be tabled in Parliament for approval. The Sri Lankan Exchange Control Act which is draconian in nature will not be amended but will be totally repealed. “In the next few weeks we will bring necessary controls to the Monetary Act and to the Banking Act,” said the Minister of Finance Ravi Karunanayake delivering the Certified Management Accountants (CMA) Founders Day Oration held at the HNB Tower in Colombo last week. “Why do we want to do this? It is because we want to keep abreast with other countries. Today there are investments of around 500-600 million dollars coming into the country.
The Prime Minister will soon bring in 15- 20 new Acts of Parliament.” The Minister further said that one may wonder as to why there are no major projects getting off the ground not knowing that there are 83 such projects in the pipeline. While not much noise has not been made of such projects the impact will be seen in a couple of months’ time when the President and the Prime Minister in the next two weeks spell out the 4-year strategy of the government from a national perspective.
- http://www.sundaytimes.lk/160612/bu...tegy-to-be-announced-soon-by-govt-196780.html
By Jayampathy Jayasinghe
View(s):
Several new bills pertaining to the economy and the Monetary Act will soon be tabled in Parliament for approval. The Sri Lankan Exchange Control Act which is draconian in nature will not be amended but will be totally repealed. “In the next few weeks we will bring necessary controls to the Monetary Act and to the Banking Act,” said the Minister of Finance Ravi Karunanayake delivering the Certified Management Accountants (CMA) Founders Day Oration held at the HNB Tower in Colombo last week. “Why do we want to do this? It is because we want to keep abreast with other countries. Today there are investments of around 500-600 million dollars coming into the country.
The Prime Minister will soon bring in 15- 20 new Acts of Parliament.” The Minister further said that one may wonder as to why there are no major projects getting off the ground not knowing that there are 83 such projects in the pipeline. While not much noise has not been made of such projects the impact will be seen in a couple of months’ time when the President and the Prime Minister in the next two weeks spell out the 4-year strategy of the government from a national perspective.
- http://www.sundaytimes.lk/160612/bu...tegy-to-be-announced-soon-by-govt-196780.html
Menna කෝටි 410 ka ekak
It has now been revealed how the Urban Development Authority (UDA), which came under the Ministry of Defence and Urban Development during the previous regime, spent a staggering Rs. 4.1 billion on promotional events allegedly on the verbal instructions of the then Secretary of Defence and Urban Development, Gotabhaya Rajapaksa.
Amongst the events this money was spent on were opening ceremonies, advertising campaigns, entertainment, musical shows, event management, refreshments, name boards, plaques, hoardings, photographs, invitations and car passes among others.
According to the UDA, this money was spent between the latter part of 2013 and the end of 2014, and all contracts had been offered to known parties without following government procurement guidelines.
Had the UDA saved this money, it could have been used to build 4,868 houses for the homeless, similar to those built under the model village concept of Housing and Construction Minister Sajith Premadasa.
- http://www.thesundayleader.lk/2016/06/12/fritting-away-uda-funds-rajapaksa-style/
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3. ESTABLISHMENT OF THE ASIAN INSTITUTE FOR SCIENCE OF TECHNOLOGY
A number of students annually access overseas education as the admission to state universities could only be gained by 22% of students that have sat for the G.C.E. AL examination. Many of them do not return to this country. Therefore it is intended to establish a higher educational institute called Asia Institute for Science of Technology (AIST) with the public – private partnership that can earn foreign exchange through providing education opportunities to local as well as foreign students. This project will be funded by Japan one of our prominent development partners. It is expected to establish a technological village near the AIST at 2025 Japanese industrial partners will be invited to establish their production, research and development centres therein. A special course that directs students towards the job market in the industrial field, including the subjects of NANO technology, electric and electronic science, Information and Communication Technology, Telecommunication, Robot Science, will be awarded. The proposal made by Hon. SusilPremajayantha, Minister of Science, Technology and Research, to establish the AIST in the proposed Science and Technology City in Malabe under the Western Province Megapolis Project in land in extent of 100 acres and to obtain necessarycooperation from Japan and other donor funding agencies, was approved by the Cabinet of Ministers.
0 4. IMPLEMENTATION OF THE COMPREHENSIVE TRANSPORT MANAGEMENT PLAN IN THE WESTERN REGION MEGAPOLIS
It has become an essential matter to take measures to minimize the issues prevailed in the transport field, especially for minimizing the traffic congestion in the western region. Short term as well as Midterm and Long term measures should be taken in this regard. Accordingly, the transport plan to be implemented under the Western Region Megapolis plan proposes to take many actions including introducing flexible and staggering working hours, parking management, updating traffic light signal systems, improvement of school and office transport services, restructuring public bus service, modernizing and improving the quality and services of buses, multimodal transport hubs, railway electrification and modernization, inland water transport, and road improvements.The joint proposal made by Hon. NimalSiripala de Silva, Minister of Transport and Civil Aviation, and Hon. PataliChampikaRanawaka, Minister of Megapolis and Western Development, to implement above activities with cooperation of relevant ministries and institutions, was approved by the Cabinet of Ministers.
- http://www.news.lk/cabinet-decusion...f-ministers-at-its-meeting-held-on-17-05-2016
A number of students annually access overseas education as the admission to state universities could only be gained by 22% of students that have sat for the G.C.E. AL examination. Many of them do not return to this country. Therefore it is intended to establish a higher educational institute called Asia Institute for Science of Technology (AIST) with the public – private partnership that can earn foreign exchange through providing education opportunities to local as well as foreign students. This project will be funded by Japan one of our prominent development partners. It is expected to establish a technological village near the AIST at 2025 Japanese industrial partners will be invited to establish their production, research and development centres therein. A special course that directs students towards the job market in the industrial field, including the subjects of NANO technology, electric and electronic science, Information and Communication Technology, Telecommunication, Robot Science, will be awarded. The proposal made by Hon. SusilPremajayantha, Minister of Science, Technology and Research, to establish the AIST in the proposed Science and Technology City in Malabe under the Western Province Megapolis Project in land in extent of 100 acres and to obtain necessarycooperation from Japan and other donor funding agencies, was approved by the Cabinet of Ministers.
0 4. IMPLEMENTATION OF THE COMPREHENSIVE TRANSPORT MANAGEMENT PLAN IN THE WESTERN REGION MEGAPOLIS
It has become an essential matter to take measures to minimize the issues prevailed in the transport field, especially for minimizing the traffic congestion in the western region. Short term as well as Midterm and Long term measures should be taken in this regard. Accordingly, the transport plan to be implemented under the Western Region Megapolis plan proposes to take many actions including introducing flexible and staggering working hours, parking management, updating traffic light signal systems, improvement of school and office transport services, restructuring public bus service, modernizing and improving the quality and services of buses, multimodal transport hubs, railway electrification and modernization, inland water transport, and road improvements.The joint proposal made by Hon. NimalSiripala de Silva, Minister of Transport and Civil Aviation, and Hon. PataliChampikaRanawaka, Minister of Megapolis and Western Development, to implement above activities with cooperation of relevant ministries and institutions, was approved by the Cabinet of Ministers.
- http://www.news.lk/cabinet-decusion...f-ministers-at-its-meeting-held-on-17-05-2016
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