Implementing infrastructure projects next year, a priority - Siyambalapitiya

by Lalin Fernandopulle

Implementing infrastructure development projects next year will be a priority in the 10-year development program, said Deputy Finance Minister Ranjith Siyambalapitiya. He said the huge defence expenditure will not be a hindrance to implement development programs.

Ensuring security, law and order cannot be compromised.

The government has allocated Rs. 170 billion for defence next year. The government came under severe criticism for its defence budget at the recent budget debate.

Siyambalapitiya said the government will not change its stance on the national issue and is always committed to find a peaceful settlement. It is the LTTE that has always turned down the invitation of the government.

"We will not neglect development and will take steps to resolve the burning issues of the people," he said.

The country's inflation has been growing at an alarming rate and has been the highest in the region. Inflation has been on an upward trend reaching 24.1 per cent in October.

Printing money was attributed as a major reason for the staggering inflation in the country.

The Deputy Minister said currency notes have to be printed if it is necessary. The government printed notes to value of Rs. 32 billion last year targeting 6 per cent economic growth.

Tax exemptions for cooperatives, salary increases for the public sector and incentives to farmers are some of the steps taken to ease the burden of people.

He said there is a misconception among people that work on infrastructure projects have come to a halt and that the government is not giving priority to commence work on such projects.

The Kerawalapitiya dual fuel (light) power project, the Trincomalee integrated infrastructure project and the Walawe left bank irrigation and extension project are scheduled to be completed next year.

Some of the major projects such as the Hambantota port development project, the Colombo south harbour expansion project, the Norochcholai coal power plant and the Upper Kotmale power plant are due to be completed by 2011.

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