The Government has introduced a 5-year financial policy plan for all mega projects undertaken by the Road Development Authority (RDA) and the Urban Development Authority (UDA).
Normally, the investor would finance 85% of the project while the Government would finance the balance 15%. As per this policy plan however, investors who undertake a mega project will have to finance 100% of the project by themselves, explained R.W.R. Premasiri, Secretary to the Ministry of Roads & Highways.
Under the new plan, the Government will also not be paying capital for the completed project for a period of five years, lessening the burden on the Treasury. A percentage of the interest will however, be paid after a period of two years.
Mr Premasiri said the policy plan will be implemented for three upcoming highway projects, namely Section III and IV of the Colombo-Kandy Expressway (Pothuhera-Galagedara and Kurunegala-Dambulla), as well as all 3 sections of the Ruwanpura Expressway.
Popular grade five tuition teacher, Hayeshika Fernando wanted over assaulting a 21 year old youth was granted bail today after she surrendered to courts.
A British national had been arrested over attempting to smuggle in the largest haul of kush( drugs) from Thailand, customs said.
First Bishop of the Batticaloa Diocese, Retired Bishop Joseph Ponnaiya, passed away today at the age of 74, following a brief illness.
The Government of Sri Lanka maintains that the allegation of genocide during the final phase of the conflict in Sri Lanka is unsubstantiated by any credible authority, either nationally or internationally, and is based on misleading information. Sri Lanka firmly rejects this false narrative and believes it has been propagated primarily for electoral gains within Canada.
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