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Building expressways is a myth till debt restructuring process completed: Bandula

2 April 2024 08:19 pm - 22     - {{hitsCtrl.values.hits}}

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Colombo, April 02 (Daily Mirror) - Cabinet spokesman and Minister Bandula Gunawardana said today that completing the expressway structure of the country has become a myth till the debt restructuring process is finalized.

"Even I hope of completing the expressway system in the country as soon as possible. But we are unable to get loans until the debt restructuring process is finalized," he said.

"We can only think of completing expressways after the debt restructuring process of the Road Development Authority (RDA) is completed," he further said.

Moreover, he said there is no truth in handing over the daily operations and management of highways to a private company.

The Ministry had approved the transfer of daily operations and management of expressways from the Road Development Authority (RDA) to a state-owned company called Sahasya Investments (SIL).

SIL is a 100 percent state-owned company under the Treasury and the RDA.

The expressway system in the country is not profitable, but it carrys so much debt that even the government is not sure of how to settle them, Minister Gunawardene said.

"The government is not in favor of privatizing the Ceylon Electricity Board (CEB), RDA, SriLanka Airlines, and the Ceylon Petroleum Corporation (CPC), but only the management system needed to make them efficient is being changed.

"Therefore, technical, managerial and strategic methods need to be resorted to," the Minister said.


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  Comments - 22

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  • Cisco Tuesday, 02 April 2024 09:06 PM

    This same guy tried to build cricket ground at Homagama just after the presidential election back in 2019 December.

    Mahila Wednesday, 03 April 2024 04:55 AM

    You Know What!!?? Exemplifies SUPER I____!!?? Your Guess is GOOD!!!???

    Adwani Tuesday, 02 April 2024 09:17 PM

    This is the person who said before that, major road projects will soon be resumed. Now he is not under the influence of hard liqour and admitted the truth.

    AZOOR Junaideen Wednesday, 03 April 2024 12:51 PM

    One of the many ministers who will packed off at the next election

    Jayantha Wednesday, 03 April 2024 12:35 AM

    Instead focus on building a train system. It is mpre cost effective on longer term. Less fuel consumed as well.

    Don Mithura Wednesday, 03 April 2024 02:44 AM

    Whether expressways are profitable or not should be gauged by a cost benefit analysis only. To travel in areas without expressways is a nightmare

    down under Wednesday, 03 April 2024 03:46 AM

    No consideration for Millions of man hours saved when getting to your destination quicker. Also what about fuel saved thereby cutting down the government fuel import bill?

    SL Highways Under Utilised to Justify It’s Cost. Wednesday, 03 April 2024 03:10 PM

    Looks like you have not used the highway on a working day coz might be living “down under”. It’s so under utilised unlike on Galle Road. These highways are sucking the government coffers due to the initial investments payments and interest. Unlike in countries like Australia, highways are heavily utilised most of the time and sufficient tolls collected to pay off the investments / maintenance of the infrastructures.

    Mahila Wednesday, 03 April 2024 05:39 AM

    Tell all this Rubbish to "The Messiah", and Appache, your earlier Boss from 2005 to 2014 and Executive President of SL!!!??? He was warned by many, than exhibiting Childish stubbornness borrowing, Commercial Interest, E01 Expressway!!?? Discarding ADB Master Plan, build single Highway - each way - provisioning for dual carriageway!!?? Post stage 1 use Tolling Revenue progress to Dual Carriage, reduce debt encumbrances!!!??? Unfortunately, more intent, becoming Fastest Billionaire, He kicked-out ADB!!?? ADB wouldn't agree starting with Dual Carriageway without assessing REPAYMENT ability!!?? Picked at ADB’s stand, turned to China Increased amount, Commercial Interest Rates!!! NO SANE Government could Justify to Citizens – why CONCESSIONS extended – “Interest Rate, Repayment Grace Period" for Loan, Increased Loan Provisioned to PAY the ‘Borrower’, or any of his Nominees thereof an Inducement!!!??? They DON’T QUALIFY FOR CONCESSIONS!!!???

    Too much Expenditures But No Solid Revenue Wednesday, 03 April 2024 06:36 AM

    The actual picture is not being told and the people are being deceived. There is a documentary on a Singapore news channel (CNA) title Debt Bomb / The Real Debt Trap about SL in a challenging situation. Google it up. Prominent Sri Lankan’s are interviewed and a detailed explanation given on the whole scenario of the amount of debts. A smoke screen is being created just for the coming Elections but actual situation looks very challenging.

    Rip Winkle Wednesday, 03 April 2024 07:50 AM

    Rebuilding Sri Lanka's economy is a myth till the ousting of all you useless fellows is completed: Winkle

    Sambo Wednesday, 03 April 2024 08:05 AM

    Are you building expressways for the people to walk on and beg. This not the need of the hour.

    joshua Wednesday, 03 April 2024 08:34 AM

    Nutty "professor"

    Nimal Wednesday, 03 April 2024 08:51 AM

    All these projects would have become realities had it not been for the mynah clan who robbed a significant portion of the funds allocated for these.

    Gamini Wednesday, 03 April 2024 09:43 AM

    Who is to be blamed for the loans taken that cannot be repaid?

    Milton Wednesday, 03 April 2024 09:44 AM

    Bandula mama wait patiently, Sajith Aiya will do this and if you will live you could travel through the express way.

    Victor MMK Wednesday, 03 April 2024 09:46 AM

    Why not you tell your old boss MR to set off the IMF and other loans so that you guys can play games and fill your pockets with commissions.

    Banapala Hundange Wednesday, 03 April 2024 03:50 PM

    Do not show your scary face to children, especially in the night!

    Buddhist Wednesday, 03 April 2024 03:58 PM

    It's Ranil who is delaying the debt restructuring process so that he can remain in power. If tomorrow the debt restructuring is completed, then he has to go to elections, which he does not want to conduct as he knows very well that he is going to once again have zero seats in the parliament and also lose his President's post.

    Sambo Wednesday, 03 April 2024 07:34 PM

    This where they played out most. The carpets rolled after the rains.

    Citizens Wednesday, 03 April 2024 11:12 PM

    Nutty professor talking! Everything that you buggers promise is a myth these days! Professori, is 2500 still enough to meet the expenses of a family of, say 4 plus the aged parents, say 6, in a household? Better you keep your gap zipped!

    reality Thursday, 04 April 2024 01:36 PM

    you build the expressways for your own benefits. you should have connected Colombo - anuradhapura first using expressway instead of building it in deserted places like hambantota


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