COPF seeks AG’s opinion on agreements signed for 10 Port City projects

Ten business enterprises currently active in the Colombo Port City with different contract agreements signed during three different stages of the project have created potential differences in investment goals and incentives, the Committee on Public Finance (COPF) observed.

It has sought the Attorney General’s opinion on this matter  within four weeks as the contracting of business companies in different terms could create issues for not only the equity investors in the project, but also the Port City administration.    

The Committee chairman Dr. Harsha de Silva pointed out that this agreement was not made according to one system under legal basis, COPF minutes revealed. 

According to the Committee Chair it is important to check the constructions being carried out by these companies in the Port City area.

The COPF has found that these 10 contracts have been made at various different stages of the Port city Project: before the completion of the port city, during its completion, and after its completion.

Dr. de Silva, noted that these agreements of contracts were signed without considering the legal provisions governing such contracts.

The orders made under the Colombo Port City Economic Commission Act No. 11 of 2021 published under the Gazette Notice Notification. 2339/31 were approved by the Committee on Public Finance after lengthy discussions, parliament office sources revealed. (Bandula)