Wednesday, 23 April 2025
Gotabaya’s pompous boast brought to zero

Gotabaya’s pompous boast brought to zero Featured

Former Defence Secretary Gotabaya Rajapaksa’s pompous boast of turning Colombo into a bustling and modern metropolis under his Urban Development Authority had been brought to zero with four of the grandiose projects all ending up in bankruptcy.

The shopping and entertainment complex at the Independence Square known as Arcade incurred a loss of Rs.13.6 million during the months of July, August and September with the expenditure being Rs.490 million.

The Race Course Complex, a similar concept, incurred a loss of Rs.2.3 million during the same period July to September, 2014 with the expenditure at Rs.660 million.

Gotabaya’s so-called Floating Market at Pettah in Colombo showed a loss of Rs.803,825 for the month of September alone with expenditure put at Rs. 134 million.

The Gold Centre shopping Complex at Sea Street in Pettah recorded a loss of Rs.2 million during the month of September alone while the expenditure was Rs.242 million.

The Dutch hospital in Colombo which was turned into another shopping and restaurant complex had an income of Rs.9.2 million during the months of July, August and September.

The month of July recorded a profit of Rs.3.2 million but the figure subsequently dropped to Rs.2.9 million in September.

The expenditure was Rs. 302 million.

(Courtesy: lankatruth)

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