Thursday Nov 07, 2024
FT
Thursday Nov 07, 2024
Thursday, 7 November 2024 01:36 - - {{hitsCtrl.values.hits}}
The Government has decided to reallocate unused funds from 2024 to address outstanding payments to the tune of over Rs. 28 billion under the country’s 100,000 km road rehabilitation initiative.
The decision was made at the weekly Cabinet meeting held on Monday.
“Launched in 2020 as a five-year initiative to upgrade the country’s road network, the initiative has faced financial hurdles since 2023, leading to unpaid bills totalling Rs. 28.37 billion,” Cabinet Spokesman and Minister Vijitha Herath disclosed yesterday.
Speaking at the post-Cabinet meeting media briefing, he said for 2024, Rs. 20 billion has been allocated for essential roadwork, under the 1,000 km of roads identified for rehabilitation.
However, with the Budget constraints impacting progress, the Cabinet decided to allow the Road Development Authority (RDA) to clear these outstanding bills using unused 2024 allocations.
Herath confirmed that the reallocation of these funds will focus on settling dues under the road rehabilitation program, ensuring continuity for essential road maintenance and improvement projects despite financial constraints.
“We will take gradual steps to address infrastructure development amid budgetary pressures,” he assured.
