The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, has given its approval to six projects (10 packages) of a total length of 712 kilometres and a total cost of Rs. 12,646 crore were approved under various phases of National Highways Development Project.
A spokesman for Wickremesinghe said he was expected to form a Cabinet in the coming days, with priority given to the 2019 budget, without which foreign debt servicing may not be possible.
Sri Lanka had been braced for a government shutdown as parliament failed to approve spending for 2019, and ratings agencies downgraded the country’s credit rating amid fears of a sovereign debt default. (VOA)