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Costs Recovery from the Expressways income continues for 38 years

Recovering the costs by the Income of the Expressways will be continued for 16 to 38 years , official estimates revealed.

The total revenue of the Expressway system of 169.13 km, under the scope of the Road Development Authority was Rs. 36,074 million as at 31 December 2018.

The government had spent Rs. 245,769 million for the construction of the express way system.

Accordingly, the revenue received from the expressways to cover the cost at the end of the year under review was 38 years for the Southern Expressway, 16 years for the Katunayake Expressway and 35 years for the Colombo Outer Circular Expressway.

Utilization of Revenue from the Expressways According to the notification published in the Gazette Extraordinary No. 1912/2 dated 27th April 2015, the revenue of the expressways should be credited to the account of the Road Development Authority and the money should be utilized for the purpose of developing and maintaining the National Expressway System to be charged.

However, the total income of the expressway was Rs. 36,074 million as at 31 December 2018, Rs.25,548 million from that income had been expend for the daily expenditure of the Road Development Authority and the payment for the General Treasury.

Only Rs. 5,507 million from that income had been left in the account. However, the loan amounting to Rs.245,769 million taken by the government to construct the expressway and the interest of the loan was paid by the Treasury the highway revenue received by the Road Development Authority has not been utilized for such payments.

However, the Expressway revenue received by the Road Development Authority has not been utilized for such payments.

(LI)

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