The Government has not totally scrapped the Greater Colombo Light Train Project, State Minister for Finance, Capital Markets and State Enterprise Reforms Ajith Nivard Cabral informed Parliament today.
“We might go ahead with the project in another five years’ time,” the State Minister said in response to a question posed by Leader of Opposition Sajith Premadasa in the House this morning.
“The cost of the Light Train Project is $ 2,300 million. It is true that the interest rate is ½ percent. However Sri Lanka would have to pay more within 40- years, considering the exchange rate situation. Japanese Yen is around Rs 1.80 as of now. Imagine how much a yen will cost in rupees in the next 40 years’ time,” the State Minister said.