The Ministry of Highways, Higher Education and Investment Promotion would like to clarify news items that have been reported by certain media outlets regarding the issuing of Treasury bonds to raise urgent funds.
During the previous regime most of the projects carried out by the then Ministry of Highways, Ports and Shipping were done so without following proper procedure or a strict competitive bidding process. Numerous lands belonging to citizens were also forcibly acquired, and compensation has yet to be paid.
Compensation for the land acquisition amounts to Rs. 40 billion, while a further Rs. 12 billion is required to complete the balance road construction.
The Ministry has requested an urgent fund amounting to Rs. 15 billion from the Ministry of Finance to make existing payments and continue the development work without disruption.
The Ministry of Highways, Higher Education and Investment Promotion requested the funds from the Ministry of Finance. The Ministry of Finance determines the manner in which the said funding is raised.
Media Secretary to Hon. Minister of Highways, Higher Education and Investment Promotion
Further Ministry of Highways and Investment Promotion has recently appointed Mr. Dinouk Colombage as Media Secretary from Today.