Govt to initiate profitable developments

Minister of Megapolis and Western Development Patali Champika Ranawaka says the government’s policy is to initiate profitable development projects.

Minister Ranawaka said the country’s economy is facing a crisis as a result of certain development projects initiated by the previous regime.

The Minister noted the government’s policy is to establish an economy that will generate a return on every expense.

Minister Ranawaka stressed when countries fail to repay loans they become bankrupt adding Sri Lanka is gradually heading towards the same fate.

The Minister claimed the government has to repay loans worth $5,600 million acquired to develop conference halls and airports that are currently unoccupied.

Minister Ranawaka said the expense to build the Port City was $1400 million claiming the loans that are due to be repaid are fivefold of that expense.