UDA musters Rs. 1,890 Mn profit in 2023

The Urban Development Authority (UDA) made a profit of Rs. 1,890 million last year, said Chairman UDA Nimesh Herath at their head office Sethsiripaya Battaramulla while officials commenced their business for 2024.

He said with the country now waking up from the economic crisis on a better economic footing and due to this discussions are currently underway to restart many projects that were stopped due to C-19 and the economic crisis.

He emphasizes that more attention has been given to housing projects and city development projects.

Herath said that these projects had been stopped due to a few government circulars as well since the government wanted to curtail some of their expenditure due to the current economic situation.

When the economy gets on to a positive territory the chairman said that he will discuss with the relevant companies and contractors who were involved in these stalled projects to restart them again soon.

He also said that the recent tax was introduced to gain more revenue to the government which could be ploughed back for welfare and development.

The UDA has come a long way from where it was in 2022 and this was achieved through dedication of their staff and would encourage them to do better in 2024.

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