Basil changes manner of allocation project funds

Basil changes manner of allocation project funds

Basil changes manner of allocation project funds

Written by Zulfick Farzan

12 Oct, 2021 | 12:38 pm

COLOMBO (News 1st); Sri Lanka’s Finance Minister has stated that the budget will not allocate funds for projects for an entire year, but will allocate funds every quarter by evaluating the progress of the projects.

Finance Minister Basil Rajapaksa had noted that funds will not be released for projects that fail to show a success rate in the first quarter, noted the Agriculture Ministry in a statement following a meeting with the Finance Ministry on Monday (11).

Finance Minister Basil Rajapaksa has noted that he would NOT allow for the country to be affected by famine under any circumstance.

He had noted that in addition to the budgetary allocations for the ministries, an additional Rs. 25,000 Mn has been allocated for production-based economy projects proposed by each ministry.

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