VIDEO: Foreign revenue through land sale to be transferred to Treasury

Deputy Minister of Economic Development Lakshman YapaAbeywardena stated that all income received through the sale of lands toforeign companies will be directly transferred to the Treasury and debited tothe Treasury account no.6000.

 

 

He stated this at a media briefing held in Colombo today(29). 

 

 

The Minster stated that the construction of two luxuryhotels in Colombo and Hambanthota is currently underway and that the governmenthas earned a sum of 125 million US dollars from the Shangrila Company throughthe sale of land for the said project. Furthermore the government has alsoreceived a sum of 136 million US dollars from the sale of land to the AVIC Company.

 

 

 He further claimed thata foreign company has been provided with a land area of 510 acres for thedevelopment of the Kachchaweli Tourist Zone and that plans are under way toconstruct a 2500 roomed hotel complex in the zone.

 

 

The Minster further stated that despite the land being soldto a foreign company 2.5%- 5% of the total income will be used for thedevelopment of the residents in the area. 

 

 

He further stated that the development of the Kalpitiyatourist zone is currently underway and that no family living in the area willbe evacuated.