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Friday 19 July 2019
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More Investment funds for North next year, but Provincial specific grant for Development reduced

More Investment funds for North next year, but Provincial specific grant for Development reduced

The Government has released more Investment funds, for the Northern Provincial council but has the allocated funds less than last year for Provincial Specific Grant for Development (PSGD). These data were indicated in the Financial Statement for 2017, submitted by the Chief Minister and the Finance Minister of NPC, C.V.Wigneswaran yesterday in the house.

Rs. 19,321 Millions has been allocated for the Recurrent Expenditure of the NPC and this is 700 Million more than the last year’s allocations. This is inclusive of salaries of the employees of NPC and the purchase of articles.

It is expected that the Central Government’s allocations will be 16,476 Million, Central Government income will be 2,300 Million and the income of NPC will be 545 Million. Rs. 5,618 has been allocated as Investment expenditure. Last year, it was 4,695 Million.

Out of the Investment grant, allocated for next year, 1,657 million has been distributed. Last year 3,199 million was distributed.  Last year Rs. 475 Million was allocated as Criteria Based Grant (CBG). 551 Million had been allocated for next year as CBG.

The allocation for foreign projects is 2,74.73 Million. 200.31 Million for North Road linking Project (Additional finance feeding), 548 .42 Million  for Northern Road Linking Project,  77 Million for Iranamadhu development concept Project and  909 Million for Jaffna – Kilinochchi Water Supply and Sanitation concept Project has been allocated, from the above Foreign project allocation.


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