Api Wenuwen Api Fund draws Rs. 400 b; Rs. 360 b spent on 588 houses for war hero families

Wednesday, 14 November 2012 01:01 -     - {{hitsCtrl.values.hits}}

By Ashwin Hemmathagama

Our Lobby Correspondent

The Api Wenuwen Api Fund has raked in Rs. 400 billion since July 2010 and of which Rs. 360 billion has been spent to construct 328 houses, which are already in the possession of families of armed forces and for the construction of an additional 260 houses nearing completion.

The figures were revealed in Parliament by Minister of Water Supply and Drainage and Chief Government Whip Dinesh Gunawardena in response to a question raised by DNA MP Sunil Handunetti.

As per data tabled in Parliament, each house costs Rs. 612 million.

Minister Gunawardena stated that the Api Wenuwen Api Fund drew contributions from Sri Lankans living abroad and residents as well as income generated from various projects and investments.

 “The procedure followed to raise money for the Api Wenuwen Api Fund includes the investments in Treasury Bill and fixed deposits, income generated from a glove manufacturing project and from the transmission towers located on Ministry properties, and from the rent collected from Ippalogama Ranajayapura Housing Scheme.

By the end of September 2012 the total fund reached Rs. 400 billion,” said Gunawardena.

The Api Wenuwen Api Fund was established by an Act of Parliament in 2008 to provide loans for the construction or purchase of houses for armed service personnel.

Parliament was told that during the past three years the Fund has built 328 houses for armed service personnel in several Districts including Kandy, Kurunegala, Matara, Hambantota, Monaragala, Badulla, Galle, Gampaha, Ampara, Batticaloa, Kalutara, Polonnaruwa, Kegalle, Ratnapura, and Trincomalee.

“In addition, 75 houses in Matale District, 85 in Ratnapura, 50 in Colombo, and 50 in Nuwara Eliya Districts are nearing completion,” Minister Gunawardena added.

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