The Sectoral Oversight Committee on National Economy and Physical Planning has brought attention to the fact that only 31 out of 179 foreign currency projects are currently yielding positive results. During a recent meeting chaired by MP Mahindananda Aluthgamage, the committee has requested officers from the Project Management and Supervision Department to promptly provide a comprehensive report on the progress of these 179 projects.
Approximately Rs. 2.6 trillion has been received for foreign currency projects from foreign-funded institutions, contributing significantly to the country’s foreign debt. The committee underscored that the intended objectives of these projects are not being realized, and there is a swift escalation of the nation’s foreign debt. The committee identified the inefficiency of project monitoring units within ministries and their implementing institutions as a key factor in this matter.
Government officials, including MPs Harshana Rajakaruna, Sudath Manjula, Nipuna Ranawaka, Gunathilaka Rajapaksa, and committee members Gamini Valeboda and lawyer Wasantha Yapabandara, participated in the meeting to address these concerns.
