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Port City Bill: PM predicts USD 15 bn in investments within five years
By Saman Indrajith
Prime Minister Mahinda Rajapaksa yesterday told Parliament that the majority of members and the Chairman of the Colombo Port City Economic Commission would be Sri Lankans.
The amendments would be incorporated into the bill in line with public proposals and the recommendations of the Supreme Court at the committee stage of the debate, the Premier said, adding that some of those amendments would be on the basis of changes proposed by other political parties.
Moving the bill for the debate, the Prime Minister said: “It was on Sept 17, 2014 the foundation stone was laid for the Colombo Port City during my tenure as the President by President of People’s Republic of China Xi Jinping. That mega project now has added 268 hectares to the landmass of our country. It was added to the Colombo District by the former government. Today, we are at the doorstep of a massive number of opportunities to make use of that landmass for the development of our motherland. To achieve such objectives it is a must that we should introduce changes for the existing legal and financial frameworks to change their parameters so that there would be a flow of investments to the country via the Port City. It is incumbent on any government to make such adjustments. Through this bill being debated here today, we hope to introduce such changes. If we make such adjustments properly this country would attract around 15 billion US dollars’ worth of investments during the next five years, as predicted by economists both local and foreign. As per the estimates of those economists, during the first five years the project would generate around 200,000 job opportunities for the construction phase and around 83,000 other permanent jobs. The commission to be set up to manage the port city would serve as a single window service provider for the foreign investors coming to invest in the Port City. We plan to provide them with all required services and facilities so that the benefits of their investments may flow into the country.”
SJB Colombo District MP Dr Harsha de Silva: We are not against the Port City project. We too understand that we as a nation are on the verge of a quantum leap to development. We are a nation trapped in a middle-income earning status trap. We cannot move neither forward nor backward.
We must convert this country into a nation of people who draw high salaries by creating complex and sophisticated goods and services. For that purpose we must join the rest of the world.
Labour Minister Nimal Siripala de Silva: There are huge differences in content between the speeches made by opposition MP Dr Harsha de Silva and his other colleagues in the opposition. Dr De Silva stated clear and loud that this bill was progressive and they would not oppose it. Others in the opposition state that the Supreme Court had bludgeoned the draft bill.
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Ms. P. M. Jayadeera (Engineer) appointed Director General of Irrigation
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News
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The Sri Lanka Land Development Corporation performs vitally important functions such as minimizing the risk of inundation in urban and lowland areas, maintaining drainage systems efficiently, carrying out urgent operations during inundation events, and maintaining canals.
The need to strengthen the capacity of the corporation’s internal
operations has been identified by the corporation to perform the aforementioned functions efficiently and expeditiously.
The corporation has planned to purchase small -scale machinery that can be used to clean small canals, which significantly contribute to urban inundation.
The General Treasury has agreed to grant 625 million rupees as an equity contribution for purchasing the relevant machinery.
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