A report prepared by the Department of Project Management and Supervision said that 260 large scale development projects exceeding Rs.1,000 million with a total investment of Rs. 5.8 trillion have been implemented in Sri Lanka up to the Second Quarter of 2022.
The Government Information Department yesterday said that the Department of Project Management and Supervision has prepared a report on the accumulated physical progress up to the end of the second quarter of 2022 of the large - scale development projects implemented by the line Ministries as well as the issues existing with regard to them.
Out of these projects, 125 projects are foreign funded and it is expected to complete these projects by 2030.
During the second quarter of the year 2022, a negative impact on the continuous operation of the said development projects erupted from import restrictions, shortage of raw materials, fuel crisis, power cut, price inflation as well as contract management issues.
During this week’s Cabinet Meeting, the Cabinet of Ministers has decided to appoint a committee headed by the Secretary to the Prime Minister to obtain the assistance of the relevant parties to ensure the smooth functioning of those projects as well as to take actions to solve the existing issues and achieve the expected targets from those projects.
This decision was reached after considering the information furnished by President Ranil Wickremesinghe in his capacity as the Minister of Finance, Economic Stabilization and National Policies.
Add new comment