Finance Minister submits Progress Report for 2020

RP | Published: 10:59 AM Mar 2 2021
Local Finance Minister submits Progress Report for 2020

The Minister of Finance submitted the Report containing the physical progress of the projects implemented by the line ministries through the Capital Budget in 2020  to the Cabinet yesterday (01), as required by a cabinet decision dated 25 April 2018.

The following information was submitted to the notice of the Cabinet of the Ministers by that report.

-289 development projects which exceed ing the estimated cost of Rs. 1 Billion have been implemented under 40 line ministries in 2020.

-Approximately Rs.710 Billion has been allocated for these projects and financial progress of them is 72%.

-Approximately another Rs. 2.9 Trillion is to be allocated for the future activities of 289 such development projects.

-It has been observed by the report that various issues and obstrucles have been arisen in the implementation of these projects and although approximately Rs. 8 Billion has been spent on additional staff allocated for the projects; the expected results have not been achieved within the approved cost and time frames relevant for some of the projects.

-Some weaknesses are observed from the pre-preparation stage of some projects and delays in obtaining the required approvals from government institutions have been sometimes become an issue in the implementation of projects.

RP | Published: 10:59 AM Mar 2 2021

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