GOVT. AT SNAIL'S PACE IN PROJECT IMPLEMENTATION

Only 5 of 79 projects planned for completion in 2025 have actually been completed and handed over | 96 ongoing government projects classified under "red code" for failing to meet expectations | Out of USD 5,465Mn in foreign-funded contracts, only USD 500Mn has been paid

- By MANGALA PAVITHRANI

Only five out of 79 government construction projects, earmarked to be completed in 2025, have been completed and handed over, Sri Lanka Builders' Association Chairman Susantha Liyanarachchi said.

He told the Daily Mirror that 21 government-funded projects, six foreign grant projects and 10 projects under local loans have been stopped halfway.

Liyanarachchi noted that although the 2025 Budget allocated Rs. 1,315 billion for capital investment in the construction industry, which is about four per cent of the GDP, there is no clear information on disbursements.

He said the total allocation for the 79 projects is Rs. 3.3 trillion, with an additional Rs. 1.3 trillion added later.

A total of Rs. 32.6 billion is due to be paid to contractors in the first quarter of 2025.

According to him, of the US $ 5,465 million worth of major foreign-funded contracts that had been signed by September 2022, only US $ 500 million had actually been paid.