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Loans for ‘white elephant projects’ being paid back – Daya

Primary industries minister Daya Gamage says the loans obtained by the previous regime for its ‘white elephant projects’ and the attached interest are being paid back considerably.

He made the remark during an inspection of Oluvil fisheries harbour along with ports minister Mahinda Samarasinghe at the weekend.

Noting that Oluvil fisheries harbour incurred a Rs. 68 million loss, he said plans have been made by the prime minister to make it profitable.

Accordingly, a fisheries high zone will be set up with major investments, for which the World Bank aided project by the Primary Industries Ministry would extend support, he said.

Under the plans, fish caught in Batticaloa, Panama and Kalmunai areas will be brought to Oluvil fisheries harbour, said the minister.

Noting the need to raise production to meet the demand, he stressed the importance of investments that generated job opportunities and earned income for the country.

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