Treasury Secretary to head Investment Management Committee

The Cabinet has approved Prime Minister Mahinda Rajapaksa’s proposal to appoint a committee named Investment Management Committee to take necessary measures to grant approval for investment proposals, Co-Cabinet Spokesman Mass Media Minister Keheliya Rambukwella said.

He was addressing the media conference held yesterday at the Government Information Department to inform the decisions taken at this week’s cabinet meeting. Accordingly a committee headed by the Treasury Secretary S.R.Artigala has been appointed in order to fast track investments. Urban Development and Housing Ministry Secretary Sirinimal Perera, Power Ministry Secretary Wasantha Perera, Labour Ministry Secretary Mapa Pathirana, Deputy Treasury Secretary R.M.P. Rathnayake, BOI DG Sanjeewa Mohottala, P.A.S.Athula Kumara and Visaka Amarasekara, M.M.C. Ferdinando, Ivan Silva and Nihal Jayawardane are the other members of the committee. Several internationally recognised investors showed their willingness to invest in Sri Lanka.

The BOI authorities have to go through a long procedure to implement the projects through authorities in Sri Lanka. Under these circumstances, the government has identified the necessity to establish a more formal methodology to encourage investments.

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