Funds to finance road, water projects
The Cabinet approved a proposal made by the Finance, Economy and Policy Planning Minister to finance the projects implemented by the Road Development Authority and the National Water Supply and Drainage Board.
Arrangements have been made to commence work on Phase 1 of the Central Expressway Project. Work on Part 2 of the project is under way. Further, the 100,000 km road development project has commenced and currently it is underway.
The Road Development Authority has to secure funds of Rs. 50 billion to make payments for projects currently underway. In addition, Rs. 30 billion of funding is needed to settle essential financial obligations relevant to the water supply projects implemented by the National Water Supply and Drainage Board.
Accordingly Cabinet approval has been granted to authorise the relevant authorities of the respective institutions to obtain funds from the local banks including Bank of Ceylon, People’s Bank and National Savings Bank and to issue the Treasury Guarantees for the purpose .
Fertilizer distribution streamlined
The Cabinet of Ministers has approved a proposal made by Agriculture Minister Chamal Rajapaksa to prepare a special mechanism to distribute fertilizer in a proper manner.
Accordingly Cabinet approval has been granted to encourage the use organic fertilizer for the small scale agricultural crops, provide 50 percent of the required amount of fertilizer ration approved for non -paddy crops from the open market while the other 50% to be issued through the Agrarian Development Centres and also to provide the chemical fertilizer subsidy required for the vegetable, fruit, and other agricultural cultivations implemented under the supervision of the Department of Agriculture, Provincial Agriculture Departments and Sri Lanka Mahaweli Authority through the Agrarian Development Centres.
Approval has also been granted to prepare a methodology to obtain the fertilizer required for the cultivators from the open market using an invoice issued by Agricultural Research and Production Assistant when there are no required stocks of fertilizer at the Agrarian Development Centres or when it is apparent to have delays in the required stocks.
CSC, United Shippers get coal contract
Cabinet approval has also been received to extend the transport contract between Ceylon Shipping Corporation and United Shippers Ltd for unloading coal to barges from the ships and to the Lakwijaya Coal Power Plant.
MAGA- ICC get building contract
The Cabinet of Ministers approved the proposal presented by Higher Education, Technology and Innovation Minister to award the contract for the buildings and infrastructure constructions for Faculty of Computing and Technology in the Kelaniya University to Maga-ICC Joint Venture for Rs. 3,032.70 million (without tax).
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