ECONOMYNEXT – Sri Lanka’s cabinet of ministers has approved a proposal to set up a committee to decide on the implementation of investment projects, spokesman minister Nalinda Jayatissa said.
The state investment supervision and evaluation committee will consist of 11 members including two ministry secretaries.
In the last decade, it has been observed that it has not been possible to move towards a targeted development due to the lack of expected results and returns commensurate with the costs incurred from public capital investment, Jayatissa said.
“Therefore, the committee will be appointed in order to avoid various problems affecting the implementation of development projects and to propose actions to be taken in relation to project management and supervision,” Jayatissa told reporters.
The committee will be able to make strategic decisions related to the implementation of public investment projects, planning, resource allocation, budgeting, finance, and monitoring based on information provided by Chief Enumeration Officers. (Colombo/Dec31/2024)
