The Board of Investment (BOI), Sri Lanka’s premier investment promotion agency is in a state of limbo after officials were instructed not to proceed with new investment project proposals in eight sectors until the presentation of the budget on November 22, highly-placed government sources said.

Billboards have been mismanaged because the CMC has not been functioning, according to Colombo Municipal Council (CMC) commissioner Badrani Jayawardena. She said a committee comprising members of the CMC, the Defence Ministry and the Urban Development Authority (UDA) will be jointly overseeing the approval and placement of billboards and cut-outs.