29 March 2023 12:14 am Views - 276
The Cabinet of Ministers this week approved a proposal to establish a road maintenance fund with an initial capital infusion of Rs.100 million and to charge an annual fee per vehicle.
Minister Transport and Highways Bandula Gunawardana on Monday sought the approval of the Cabinet of Ministers establish the proposed fund through an Act of Parliament.
Amidst fiscal constraints, President Ranil Wickremesinghe proposed to establish a fund for road maintenance with an initial allocation of Rs.100 million in the 2023 budget.
It was also proposed to charge an annual fee not less than Rs.100 per vehicle when obtaining revenue licenses in order to maintain the fund.
The Ministry of Transport and Highways has been assigned the responsibility of preparing an appropriate system for establishing and maintaining the fund.
The fund is expected to provide allocations for all types of road maintenance annually including rehabilitation and construction.