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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Sri Lankan government decides not to sign MCC agreement

Sri Lankan government decides not to sign MCC agreement

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KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Feb 28, Colombo: 

The Cabinet of Ministers has decided to suspend the signing of the Millennium Challenge Corporation (MCC) agreement after considering the recommendations made by the committee appointed to review the agreement, co-cabinet spokesman Minister Bandula Gunawardena said.

The Minister made this announcement at the press briefing held at the Government Information Department today (28) to announce cabinet decisions.

Following a decision taken by the cabinet of Ministers of the new government on December 18, 2019, a four-member committee was set up with effect from January 1, 2019 to review the MCC Agreement and make recommendations to the Government on the action to be taken.

The special committee was headed by Professor Lalithsiri Gunaruwan of the University of Colombo and comprised former Secretary to the Ministry of Transport DS Jayaweera, President's Counsel Nihal Jayawardena and Architect Nalaka Jayaweera as members.

The committee has submitted an interim report to the Prime Minister Mahinda Rajapaksa.

The Committee in its report has pointed out that although the MCC proposal includes the ability to raise the financial resources needed for investment in mitigating basic economic constraints of Sri Lanka burdened with debt and lacking capital resources, some of the projects proposed to be included in the program will have significant adverse impacts on the national, social and economic well-being of Sri Lanka.

The Committee has also pointed out that the Corporate Agreement and Program Implementation Agreement between the United States Millennium Challenge Corporation and the Government of Sri Lanka as well as the draft constitution of the proposed company to be established include clauses and provisions which may be inconsistent with the Constitution of Sri Lanka and the legal system of the country and conditions which could potentially affect national objectives, sovereignty and national security.

The Committee has pointed out that it is imperative to make appropriate corrections and amendments to such adverse elements and it is appropriate to seek the public opinion on the relevant conditions and project proposals and obtain the approval of Parliament.

The Prime Minister has presented the interim report of the Committee to the Cabinet of Ministers for their information and the Cabinet of Ministers has considered its findings, preliminary inferences and recommendations.

The US$ 480 million grant under the MCC Agreement was proposed to utilize to upgrade the transportation infrastructure and improve land management, covering the entire country.

kasun_gimhana

kasun_gimhana
Manager - Equity Analytics
Manager - Equity Analytics
70% unma hodai kiyapu givisumak dan sign karanne nahalu chande hinda.lol
Oka givisumata pakshai mama nam . Eth oka mun sign karath mama baninawa munta,chandeta kalin boru kiwwata. sign nokarath baninawa munta. 70% hodai kiyapu givisumak sign nokaranawata.

Teller

Teller
Moderator
Moderator
90% of both voters and rulers are IDIOTS , in sri Lanka


_________________




Teller said is said..

King of vice

King of vice
Senior Equity Analytic
Senior Equity Analytic
After the election they will sing a different Baila and our buggers will dance to that. Laughing Laughing

Kipling


Expert
Expert
100% agree King. 
There will be minor amendments to justify uturn. 
Hope some news on my matter.

npgslnawa


Manager - Equity Analytics
Manager - Equity Analytics
All of these decisions are aimed at the forthcoming general election and we will see the truth of all of them after the election.  Because none of these decisions are permanent, these are fake decisions aimed at the election.  
Election propaganda has begun. You can hear a lot of lies from all parties in the future.
"The time of sowing lies has begun, and the harvest will come after the election"

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Yes. We will see the real act after the GE.

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@kasun_gimhana wrote:70% unma hodai kiyapu givisumak dan sign karanne nahalu chande hinda.lol
Oka givisumata pakshai mama nam . Eth oka mun sign karath mama baninawa munta,chandeta kalin boru kiwwata. sign nokarath baninawa munta. 70% hodai kiyapu givisumak sign nokaranawata.

But as i know that agreement is a shit. Isn't it?

What if that agreement signed? What will happen to that path from Colombo to Trinco?

kasun_gimhana

kasun_gimhana
Manager - Equity Analytics
Manager - Equity Analytics
We need that 450 million and we have to sell our national asset to survive. The matter is whether we are getting the maximum selling price for our national assets. we had to think a lot of things before taking foreign loans. We took a lot of loans and didn't create any assets to repay the loan. Srilankans say "Hure Hure " like idiots when government taking loans but they don't want to pay them back.

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@kasun_gimhana wrote:We need that 450 million and we have to sell our national asset to survive. The matter is whether we are getting the maximum selling price for our national assets. we had to think a lot of things before taking foreign loans. We took a lot of loans and didn't create any assets to repay the loan. Srilankans say "Hure Hure " like idiots when government taking loans but they don't want to pay them back.

But there must be a way to survive without selling assets. However those loans are not totally wasted. Here we have highways, docks and ports.Must start good investments soon. Srilanka is full of natural sources. GR has a vision. Will see.

Eng Krishantha

Eng Krishantha
Expert
Expert
@Teller wrote:90% of  both voters and rulers are IDIOTS , in sri Lanka

ammo meka kohomada  Laughing Laughing Laughing

desh87


Manager - Equity Analytics
Manager - Equity Analytics
The truth of the matter is, we haven’t had a president who thinks and acts like GR. Just have to wait and see if he can deliver.

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@desh87 wrote:The truth of the matter is, we haven’t had a president who thinks and acts like GR. Just have to wait and see if he can deliver.
Agree.

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