News

Only 31 out of 179 foreign investment projects, efficacious

Published

10 months ago

November 24, 2023

editor

Given the consideration of the performance report of the Department of Project Management and Monitoring, the current status of Foreign Investment Projects was taken up for discussion where it was disclosed that only 31 projects out of 179 Foreign Investment Projects are efficacious.

The inquiry into this took place when the Sectoral Oversight Committee on National Economic and Physical Plans met in Parliament recently (21) under the Chairmanship of Hon. Mahindananda Aluthgamage, Member of Parliament.

Whilst it was disclosed that approximately 2.6 trillion rupees have been received for Foreign Investment Projects from foreign funded institutions, the Committee emphasized that it is very regrettable that the foreign loans and grants obtained for the country’s capital expenditure through such projects are not properly implemented to achieve the desired results through the related projects.

The Committee pointed out that the expected objectives are not being achieved through these projects and that the foreign debt of the country is increasing rapidly, and the reason for this is the weakness of the relevant Ministries and their operating institutions as well as the project monitoring units established for the implementation of these projects.

Accordingly, the Committee instructed the officials present to submit a report in this regard within one month. The Committee also approved the performance report of the Department of Project Management and Monitoring.

Following the said discussions, 4 performance reports including the performance report of the Department of Project Management and Monitoring and 3 annual reports were considered in the Sectoral Oversight Committee on National Economy and Physical Planning.

Accordingly, the Performance Report of Department of Public Finance 2022, Performance Report of the Department of National Planning 2022, Annual Report of the Ceylon Industrial Development Board 2020, Annual Report of the Sri Lanka Tourism Development Fund 2020, Performance Report of Local Loans and Development Fund 2021, Performance Report of Ministry of Plantation Industry 2022 were considered at the Committee meeting held.

News

2nd day of talks between the President & IMF

Published

2 hours ago

October 4, 2024

editor

President Anura Kumara Dissanayake engaged in a discussion with the International Monetary Fund (IMF) at the Presidential Secretariat today (Oct. 04), marking the second day of talks with the President.

Director of the IMF’s Asia Pacific Department Krishna Srinivasan, Senior Mission Chief Dr. Peter Breuer, along with other senior IMF representatives and the Sri Lankan delegation attended the discussions.

President Dissanayake aims to achieve the objectives of the program in partnership with the IMF, seeking alternative approaches that will alleviate the burden on the citizens.

News

Youtuber arrested at BMICH

Published

2 hours ago

October 4, 2024

editor

Popular Youtuber – Kalpa Gunaratne has been arrested yesterday (Oct. 03) at the Colombo International Bookfair at the BMICH.
The arrest had followed a security officer assaulting a young man at the bookfair.

Mr. Guneratne had opposed the physical assault and had started to video record the incident after it had continued.

Upon the arrival of CI Neomal who is in charge of the security at BMICH, the security personnel had told that Mr. Guneratne’s recording had caused a scene.

After taking into possession two old media IDs, Mr. Guneratne was taken to the Cinnamon Gardens police saying he had no valid media and was subsequently charged with breaching public order.

He was kept behind bars for around 03 hours before lawyers of the Media Law Forum had secured police bail.

However, since no mention had been made of the assault, the assaulted youth himself had gone to the police and made a complaint.

It is reported that he had suffered injuries to his head from the incident.