Ravi K says Japan keen to boost Lankan infrastructure

• Visiting Japanese Vice Minister for Policy Coordination (International Affairs) during meeting has expressed interest in infrastructure development projects such as expressways, ports, airports and housing

Minister of Finance Ravi Karunanayake – Pic by Bhanuka Kirinde

By Charumini de Silva

Japan has yesterday expressed interests in stepping up its support for enhancing Sri Lanka’s socioeconomic infrastructure.

This assurance has been conveyed to Finance Minister Ravi Karunanayake when the visiting Japanese Vice Minister for Policy Coordination (International Affairs) Yasuo Sakamoto called on the former along with Japanese Ambassador Kenichi Suganuma yesterday. 

Karunanayake after meeting the visiting delegation told the media that Japan was looking very positively for wide areas of activities especially in terms of investment and infrastructure development.

“They expressed interest in helping Sri Lanka especially in the infrastructure development projects such as expressways, ports, airports and housing,” he added.

The Minister further said that the intention that has been displayed by the Japanese officials were phenomenon. “They expressed commitment to further boost bilateral ties with Sri Lanka,” Karunanayake added.

Plans for a Japanese commercial bank to set up branch in Sri Lanka have been shared as well with Minister Karunanayake by the Japanese Vice Minister under the Ministry of Internal Affairs and Communications. When asked about the recent meeting with the IMF officials in Colombo, Karunanayake said: “They have come on a normal routine visit, but we have very clearly told them that we will decide as how the Government will run and as a professional Government we were only exchanging ideas.”

Denying comments on the current exchange rate volatility, its impact to the economy and Government targets for the year, the Minister promised that he would reveal the relevant details in next week as he could not divulge anything offhand.

However, he said that they would put forward in Parliament within a fortnight the 14 revenue proposals that were in the Interim Budget and a bill to raise the total Treasury bill borrowing limit to Rs. 1.25 trillion from the current Rs. 850 billion.