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Given the consideration of the efficiency report of the Division of Challenge Administration and Monitoring, the present standing of Overseas Funding Initiatives was taken up for dialogue the place it was disclosed that solely 31 initiatives out of 179 Overseas Funding Initiatives are efficacious.
The inquiry into this came about when the Sectoral Oversight Committee on Nationwide Financial and Bodily Plans met in Parliament lately (21) underneath the Chairmanship of Hon. Mahindananda Aluthgamage, Member of Parliament.
While it was disclosed that roughly 2.6 trillion rupees have been acquired for Overseas Funding Initiatives from overseas funded establishments, the Committee emphasised that it is extremely regrettable that the overseas loans and grants obtained for the nation’s capital expenditure by way of such initiatives are usually not correctly carried out to realize the specified outcomes by way of the associated initiatives.
The Committee identified that the anticipated targets are usually not being achieved by way of these initiatives and that the overseas debt of the nation is rising quickly, and the rationale for that is the weak spot of the related Ministries and their working establishments in addition to the mission monitoring models established for the implementation of those initiatives.
Accordingly, the Committee instructed the officers current to submit a report on this regard inside one month. The Committee additionally accepted the efficiency report of the Division of Challenge Administration and Monitoring.
Following the mentioned discussions, 4 efficiency stories together with the efficiency report of the Division of Challenge Administration and Monitoring and three annual stories have been thought of within the Sectoral Oversight Committee on Nationwide Economic system and Bodily Planning.
Accordingly, the Efficiency Report of Division of Public Finance 2022, Efficiency Report of the Division of Nationwide Planning 2022, Annual Report of the Ceylon Industrial Improvement Board 2020, Annual Report of the Sri Lanka Tourism Improvement Fund 2020, Efficiency Report of Native Loans and Improvement Fund 2021, Efficiency Report of Ministry of Plantation Trade 2022 have been thought of on the Committee assembly held.
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