Over 300 large scale projects which are underway at the expense of 1,7 trillion Rs.updated.

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Over 300 large scale projects which are underway at the expense of 1,7 trillion Rs.updated.

The Government has decided to fast track over 300 large-scale development projects after reviewing the progress of the projects which are valued at Rs. 1.7 trillion. 

The Minister of Finance has tabled the following progress/information with regard to the large-scale development projects implemented islandwide, to the Cabinet of Ministers: 

  • 319 large–scale development projects exceeding a cost of rupees 1000 million is being implemented at present under 43 Ministries. 
  • These projects implemented until the year 2030 have an approximate total value of rupees 7.1 trillion 
  • An expenditure of rupees 1.75 trillion has been spent while rupees 745 billion of provisions has been allocated for the year 2021. 
  • There are 88 projects that ensure the new development access of the government out of those 319 projects. 
  • The estimated cost for the purpose is rupees 2.5 trillion whereas, rupees 232 billion has been allocated for those projects for this year. 
  • Amongst those programmes are Drinking Water for All projects, the development programmes of 100,000 kilometres of highways and byways, Hundred Cities programme, Waari Saubhagya (Irrigation Prosperity) programme as well as the Saubhagya Production Villages Programme along with the programmes the government has inaugurated for confronting COVID – 19 pandemic situations. 
  • Only 55% of the target expenditure has been occurred during the first quarter of the year, due to the COVID – 19 pandemic circumstances prevailing within the country. 

Thereby, the Cabinet has decided that the projects showing less progress to be implemented on a priority basis after reviewing them again so that the expected goals and objectives from these projects could be achieved by implementing those projects.

It has also been decided to direct those projects under the close supervision of the Ministry of Development Coordination and Supervision so that the project activities can be finalized within the precise time frame and present to the public for their benefit.