The Hon. Anura Karunathilaka - Minister of Urban Development, Construction and Housing
The Minister stated that the National Equipment and Machinery Organization became inactive after staff retired under the voluntary retirement programme from 3 August 2023 and that responsibility now lies with the State Engineering Corporation following its merger. He said the Corporation is in a weak financial position, with about Rs. 10 billion in debt and monthly interest costs of Rs. 20–30 million, limiting its ability to settle old project payments. He added that the equipment is valued in the billions and that feasible next steps will be decided after a structured review.
Verbatim record (translated)
Machine-translated from Sinhala / Tamil / English¶ 01 Hon. Member, under the voluntary retirement programme effective 03.08.2023, staff were retired and the entity is inactive. Since NEMO has been merged with SEC, responsibility lies with the SEC. However, the SEC’s financial condition is very weak, with about Rs. 10 billion in debt and monthly interest outflows of Rs. 20–30 million, leaving no capacity to settle old project payments. The equipment is valued in the billions. Following a structured review, we will decide the feasible next steps.
Provenance
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- Hansard, Tuesday, 4 March 2025 ·No. 1742359468086980 ·English daily/uncorrected Hansard
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Cite as: The Hon. Anura Karunathilaka - Minister of Urban Development, Construction and Housing. 10th Parliament, Parliament of Sri Lanka. Hansard, 4 March 2025. No. 1742359468086980. Politick, https://staging.politick.io/lk/speeches/10224