Friday Nov 15, 2024
Friday Nov 15, 2024
Wednesday, 3 March 2021 00:26 - - {{hitsCtrl.values.hits}}
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| Cabinet Spokesman and Media Minister Keheliya Rambukwella
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A new committee headed by the State Minister of Money, Capital Markets and Enterprise Reforms Ajith Nivard Cabraal will be appointed to conduct monthly reviews and fast-track implementation of 289
development projects worth over Rs. 3.5 trillion.
Cabinet Spokesman Keheliya Rambukwella told the weekly Cabinet briefing the decision was taken after a quarterly review done by the Finance Ministry into Budget-funded projects begun in 2020. The report found 289 development projects each over Rs. 1 billion were implemented under 40 line ministries in 2020.
Approximately Rs. 710 billion were allocated for these projects and financial progress was at 72%. An additional Rs. 2.9 trillion is to be allocated for the future activities of these development projects.
“However, the report found various issues and obstacles have arisen in the implementation of these projects and although about Rs. 8 billion has been spent on additional staff allocations for these projects, expected results have not been achieved within the approved cost and timeframe,” Rambukwella said.
A range of issues including ad hoc pre-preparations of some projects and delays in obtaining required approvals from Government institutions were highlighted as issues in the report.
Taking into consideration the information contained in the report presented to Cabinet by Prime Minister Mahinda Rajapaksa in his capacity as Finance Minister, Cabinet decided to appoint a committee chaired by State Minister of Money, Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal.
The Committee will include senior secretaries to conduct monthly reviews on resolving issues arising out of large-scale Budget-funded projects and to obtain the necessary assistance from relevant parties in an optimal and timely manner, the Spokesman added.
