Ques­tion Marks

Southasia - - BRIEFS -

$15 bil­lion Colombo Port City Project con­tin­ues to be ques­tion­able. The project is also likely to pose a ma­jor en­vi­ron­men­tal threat. There is also a big ques­tion mark about the ven­ture be­ing pro­moted by Sri Lanka’s long-es­tab­lished friend – China.

In terms of ur­ban­iza­tion tar­gets of the 21st cen­tury, the CPCP is a vi­tal en­ter­prise. But af­ter the Mat­tala Air­port in­vest­ment of $209 mil­lion, this $15 bil­lion ven­ture is not be­ing re­garded in the best in­ter­ests of the Sri Lankan econ­omy. The coun­try has a per capita an­nual GDP of $4,000, whereas the col­lec­tive in­vest­ment in the public and pri­vate sec­tors in 2013 was only $19.6 bil­lion. The CPCP is ex­pected to cost 75% of the public and pri­vate sec­tors’ in­vest­ment com­bined; a cost over­run is also an­tic­i­pated, fur­ther en­dan­ger­ing the eco­nomic sit­u­a­tion.


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