The opening of the head office of Sahasya Investment Company (SIC), which was established to manage the highway network under the Ministry of Transport and Highways, on the 7th floor of the ‘Maga Neguma Maha Medura’ building premises in Battaramulla Koswatta, was presided over by the Minister of Transport, Highways and Mass Media, Dr. Bandula Gunawardhana.
The expressway system owned by the Road Development Authority (RDA) and its assets are to be placed under the SIC and its operations will be carried out as a full government agency.
Speaking on the occasion, the Minister said that changing the course of our country’s history, the RDA played the role of building, and maintaining the highway system in the country for a long time.
But in the current situation, under the national programme for restructuring the balance sheet of the RDA, the Highway System Road Development as a 100% government-owned entity separated from the authority, government policymakers, including the Ministry of Finance, have worked to provide a more effective and efficient service commercially through the SIC.
SIC is chaired by the Secretary of the Ministry of Transport and Highways and has a senior engineer with over two decades of experience in the RDA as its Chief Operations Officer, while a Board of Directors representing the Ministry of Finance and other government agencies has been appointed.
The main objective of this is to maintain the existing highway system, to determine strategic methods for further development, to use modern technical methods to reduce the cost and thereby to lead the country towards an effective and efficient highway system.
Opening the main office of SIC in the building premises belonging to the Ministry of Highways will be more convenient for operations.
There is a dire need for more optimal management of commercially productive assets in order to pay off the outstanding debt of over Rs. 860 billion for the expressway system. But since it is difficult to fulfill that requirement in the traditional government organisation structure, this organisation will operate as a government company that can make decisions more effectively.
By doing so, it will be possible to maintain a highway system that will not be a burden to the country, but an asset to the country.
Ranjith Ganganath Rubasinghe, Secretary to the Ministry of Transport and Highways, Chief Operating Officer Senior Engineer K.W. Kandambi, Chief Financial Officer P.R.B. Sumangali, RDA Chairman Chaminda Athuluwage, Director General, Priyantha Suriya Bandara, SIC Board members, heads of institutions operating under the Ministry of Transport and Highways, attended this event.
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