January 19, 2019

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    Decisions taken by the Cabinet of Ministers at its meeting held on 02.01.2019 Featured

    January 03, 2019

    1.         Establishment of Information and Communication Technology Centres in order to Secondary Education (Document No.07)

    A project to strengthen Computer Supported Teaching Methodology is  planned to launch under the Ministry of Education. Under this project Fully equipped National E-Education centres are planned to be set up in North Western, Southern and Eastern Provinces. The Cabinet of Ministers approved the proposal presented by Hon. Mangala Samaraweera, Minister of Finance and Mass Media to  enter in to an agreement with South Korean Import Export Bank to secure funds for this project.

     

    2.         Continuous Implementation of  "Gamperaliya'' Rural Development Program(Document No.09)

    The cabinet of Ministers allocated Rs. 20 billion for Gamperaliya project in 2018. The cabinet of Ministers approved the proposal presented by Hon. Mangala Samaraweera, Minister of Finance and Mass Media to allocate Rs 48 billion for the implementation of Project Gamperaliya in 2019 providing Rs.300 million for each electoral division.

     

    3.         Colombo Light Rail Transit system setting up Project (Document No. 10)

    Under this project 17 km long light rail transit system is planned to be set up from Colombo Multimodal Transport Hub to Malabe with 246,641 million Japanese Yen investment. Japan International Cooperation Agency has agreed to provide 200,415 Japanese yen and the cabinet of Ministers approved the proposal presented by Hon. Mangala Samaraweera, Minister of Finance and Mass Media to hold negotiation discussions and enter in to an agreement with this purpose.

    4.         Implementation of Colombo Urban Revitalization project (Document No.12)

    Colombo Urban Revitalization Project is planned to be set up with USD 287 million investments. Asian Infrastructure Investment Bank, Sri Lanka Government and Private Sector will provide funds for this project. The cabinet of Ministers approved the proposal presented by Hon. Mangala Samaraweera, Minister of Finance and Mass Media to hold Loan Negotiation Discussions and to enter in to loan agreement with Asian Infrastructure Investment Bank.

     

    5.         A017 Road Development Project from Deniyaya to Rakwana (Document No.13)

    OPEC fund for International Development has agreed to provide USD 40 million to implement this project and the cabinet of Ministers approved the proposal presented by Hon. Mangala Samaraweera, Minister of Finance and Mass Media to hold Loan Negotiation Discussions and to enter in to loan agreement with this purpose.

     

     

     

     

     

    6.         Preparation of Budget for the year 2019 (Document No.24)

    In accordance with the Statutory provisions a vote account  was approved by the parliament on 21.12.2018 for the expenditures in first four months of 2019. A new Appropriation Bill for year 2019 should be presented for Parliamentary approval including the expenditures relating to the first four months of 2019.

    The Cabinet of Ministers approved the proposal presented by Hon. Mangala Samaraweera , Minister of Finance and Mass Media to prepare National Budget for 2019 facilitating the present State financial integrity program and the achievement of  following State Financial Goals.

     

                                       i.            Increase government revenue over 17% of Gross Domestic Product

                                     ii.         Restrict recurrent expenditure of the government to 15% of Gross Domestic Product.

                                   iii.         Maintain government revenue at 5.5% of Gross Domestic Product.

                                    iv.         Restrict budget deficit to 3.5% of Gross Domestic Product.

                                      v.         Maintain outstanding Government Debt below 70% of Gross Domestic Product.

     

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