Post conflict era brings dividends to all sectors

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Post conflict era brings dividends to all sectors
25 Aug 2010 - 09:11

Rapid development is taking place in the North as well as the South with the liberation of the country from terrorism. The Matara – Colombo rail track project, which is another mega development programme occupies a significant place. The total expenditure on this Matara – Colombo rail track development scheme is expected to be 158 million US dollars. 78 million dollars will be on the construction of the rail track and the import of 20 Power sets and three Locomotives.The government of India has granted soft loan for the project.The government has embarked upon on number of major development projects throughout the country simultaneously. The Hambantota mega port project is to be in operation by November 2010. Five other ports inclusive of KKS and Oluvil ports are being developed in other parts of the country. The 300 MW Norochcholai coal power project will recieve the first consignment of coal in coming months for it to begin its first phase of operation by October.Expressways, Highways, flyovers and bridges are the major development projects carried out in various parts of the country. The post conflict development era has brought the country's tourism sector a major boost with projects launched to increase the number of hotel rooms by 12000 within this year.Now Sri Lank'a economy has rebound with a 6.2 percent growth registering in the last quarter of 2009 and a 7.1 percent growth in the first quarter of 2010. According to Central Bank of Sri Lanka almost all sectors of the economy have contributed to this recovery. In the agricultural sector the production of paddy and maze has shown marked increase.Sri Lanka targets to double its present per capita income of USD 2023 to over USD 4000 within the next four years with an annual GDP growth rate of over 8 percent. Courtesy:news.lk