Govt. hasn’t totally scrapped Colombo Light Train Project: State Minister Cabral

8 December 2020 05:18 pm - 16 - {{hitsCtrl.values.hits}}

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The Government has not totally scrapped the Greater Colombo Light Train Project, State Minister for Finance, Capital Markets and State Enterprise Reforms Ajith Nivard Cabral informed Parliament today.

“We might go ahead with the project in another five years’ time,” the State Minister said in response to a question posed by Leader of Opposition Sajith Premadasa in the House this morning.

“The cost of the Light Train Project is $ 2,300 million. It is true that the interest rate is ½ percent. However Sri Lanka would have to pay more within 40- years, considering the exchange rate situation. Japanese Yen is around Rs 1.80 as of now. Imagine how much a yen will cost in rupees in the next 40 years’ time,” the State Minister said.(Yohan Perera and Ajith Siriwardana)

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Comments - 16

Johan Tuesday, 08 December 2020 06:41 PM

That means there is no solution for the traffic Congestion in Greater Colombo Area for another Five years.

Jayampathi Tuesday, 08 December 2020 06:46 PM

See the negative mindsets of our rulers. In another 40 years, they expect the rupee gets further weakening against yen. Why they can't think in a reverse way.

Chux Tuesday, 08 December 2020 06:50 PM

You are such an idiot don’t you Practise the same when you invest in Greek Bond

Buddhist Tuesday, 08 December 2020 07:05 PM

What about Chinese loans doesn't the exchange go up there, that too in US$?

oil matters Tuesday, 08 December 2020 07:47 PM

What ever said and done in developed countries the incoming elected govt continues with the development plans and ongoing projects of the previous govt. In our wonder of Asia there are other factors under the table which influence to scrap the projects started by a previous govt. SHAME ON YOU ALL

das Tuesday, 08 December 2020 08:30 PM

In 05 years time, you wont be in politics

Ralph Tuesday, 08 December 2020 08:43 PM

You have not analysed the project in proper.Your Sir promised to build the economy if that is right why currency devaluation.Don't tell this to the international institutions,they will request you to go to school back.

Bernard Tuesday, 08 December 2020 10:14 PM

Will the Sri Lanka Rupee be stronger in another five years time? Then shelve all the projects and keep quiet.

Pradeep Tuesday, 08 December 2020 10:21 PM

Stopped as demanded by China, will get Chinese loan at 6% for unfeasible projects as in the past, that is the strategy of China

Silva Tuesday, 08 December 2020 11:04 PM

It's just off the table because the Japanese don't pay these huge commissions they earn if the Chinese are doing it.

Ascot Dexter Tuesday, 08 December 2020 11:07 PM

Dear Mr Minister, no doubt that this would have had enormous benefits to our economy. Increase of productive hours gained due to no road congestion, development of urban towns - no need to work

Dr.Siri Tuesday, 08 December 2020 11:18 PM

The project is a white elephant as the entire population doesn't benifit.

S.Vaidy Wednesday, 09 December 2020 07:11 AM

At least complete the partially completed sky-way for Bandaranayaka Airport to Colombo city and get rid of congestion between Pehiliyagoda and Colombo Fort and think of utilizing KV Railway line to provide an express bus service with dual roadways and conevert rail stations to express bus stations providing buses at every five minutes at peak hours between Colombo Fort and Homagama

Scrapper Wednesday, 09 December 2020 07:15 AM

Is the scrap yard full?

Anton Weerasinghe Wednesday, 09 December 2020 07:35 AM

So he is predicting that the Sri Lankan rupee will slide in the future

Manta Thursday, 10 December 2020 06:40 AM

Waiting for someone else to build it so they can take the credit afterwards!

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Govt. hasn’t totally scrapped Colombo Light Train Project: State Minister Cabral

Comments - 16

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