CHATURANGA PRADEEP SAMARAWICKRAMA 
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No one can touch it-Basil
By Sandun A. Jayasekera
Every single dollar invested in Sri Lanka for Hotel Development Projects had been deposited in a special fund in the Treasury and the Development programme in the Fort and Galle Face would be carried out with transparency, Economic Development Minister Basil Rajapaksa said.
He said that the US$ 125 million invested for the seven star Shangri-La Hotel chain in Hong Kong at the Galle Face has been deposited in the Treasury and no one could access it.
“Anyone who wants to use this money must get the Cabinet Approval and submit a supplementary estimate in Parliament. The government will release lands to investors on a step by step basis to ensure the smooth flow of foreign investment.
“For, instance, the government will release five acres or less first if the land extent of a project is ten acres and after the investor paid the value of five acres, the government will release the remaining part of the land,” Rajapaksa said.
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