In presenting the 2024 budget proposal to the Parliament, the Head of State of Sri Lanka announced that an extra Rs. 55 billion would be allotted to finishing projects that were put on hold because of the economic downturn and to make the necessary provisions for other capital expenditure proposals.
A government committee has been established to assess new projects, according to the President, who emphasised that a new system to approve development projects has already been introduced.
The Minister of Finance will approve projects in accordance with the Committee’s recommendations, he said, adding that the government would not provide funding for initiatives that did not follow this process.
