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New committee to fast-track 289 projects Vote_lcap16%New committee to fast-track 289 projects Vote_rcap 16% [ 43 ]
New committee to fast-track 289 projects Vote_lcap21%New committee to fast-track 289 projects Vote_rcap 21% [ 58 ]
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FINANCIAL CHRONICLE™ » EXPERT CHRONICLE™ » New committee to fast-track 289 projects

New committee to fast-track 289 projects

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samaritan

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New committee to fast-track 289 projects 2Q==


  • New quarterly report finds projects worth over Rs. 3.5 t started in 2020 delayed 

  • Financial progress at 72% but work on the ground slower 

  • Poor pre-preparations, slow approvals highlighted as reasons for delay 

  • State Minister Cabraal to head committee, monthly progress reviews









New committee to fast-track 289 projects Image_740dedd377
Cabinet Spokesman and Media Minister Keheliya Rambukwella


A new committee headed by the State Minister of Money, Capital Markets and Enterprise Reforms Ajith Nivard Cabraal will be appointed to conduct monthly reviews and fast-track implementation of 289
development projects worth over Rs. 3.5 trillion. 

Cabinet Spokesman Keheliya Rambukwella told the weekly Cabinet briefing the decision was taken after a quarterly review done by the Finance Ministry into Budget-funded projects begun in 2020. The report found 289 development projects each over Rs. 1 billion were implemented under 40 line ministries in 2020. 

Approximately Rs. 710 billion were allocated for these projects and financial progress was at 72%. An additional Rs. 2.9 trillion is to be allocated for the future activities of these development projects. 

“However, the report found various issues and obstacles have arisen in the implementation of these projects and although about Rs. 8 billion has been spent on additional staff allocations for these projects, expected results have not been achieved within the approved cost and timeframe,” Rambukwella said.  

A range of issues including ad hoc pre-preparations of some projects and delays in obtaining required approvals from Government institutions were highlighted as issues in the report.  

Taking into consideration the information contained in the report presented to Cabinet by Prime Minister Mahinda Rajapaksa in his capacity as Finance Minister, Cabinet decided to appoint a committee chaired by State Minister of Money, Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal. 

The Committee will include senior secretaries to conduct monthly reviews on resolving issues arising out of large-scale Budget-funded projects and to obtain the necessary assistance from relevant parties in an optimal and timely manner, the Spokesman added.



http://www.ft.lk/front-page/New-committee-to-fast-track-289-projects/44-714125

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Post Wed Mar 03, 2021 2:49 pm by Mr. Wayne

Surprising. I thought this would have been given to the Army.

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Post Wed Mar 03, 2021 3:09 pm by samaritan

Mr. Wayne wrote:Surprising. I thought this would have been given to the Army.
AEL will play a lead role.

judecroos likes this post

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Post Wed Mar 03, 2021 3:57 pm by judecroos

samaritan wrote:
Mr. Wayne wrote:Surprising. I thought this would have been given to the Army.
AEL will play a lead role.
Is this also a media show?? let's wait and see if this really happen here. because this is SRI LANKA. Everything depend on commission won't you agree ? Smile

Nandun likes this post

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