Wednesday, 12 June 2024 09:40

Govt. seeks Rs. 8.75 bn to restart stalled development projects Featured

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State Minister of Finance Shehan Semasinghe yesterday said that Parliament’s approval has been sought for an additional allocation of Rs. 8.75 billion to restart essential

development projects that were halted due to the ongoing economic crisis and the pending debt restructuring program.

He clarified that this request does not constitute a supplementary Budget, which is typically presented to Parliament when allocated funds prove insufficient.

Instead, he noted that the requested amount is expected to be resettled after the completion of the debt restructuring process and will not impact the Budget deficit.

“The suspension of various development projects over the past few years has significantly affected a large number of communities. Key initiatives, including rural roads, bridges, small tanks, canals, rural hospitals, and schools, were put on hold.

This interruption has led to numerous requests from public representatives and organisations urging the Government to resume these projects,” he explained

 

 

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