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China gets the monkey off its back with Port City luxury property deal re-start | The Sunday Times Sri Lanka

China gets the monkey off its back with Port City luxury property deal re-start | The Sunday Times Sri Lanka: In the same week that Colombo’s state media cited a Chinese official as saying that Sri Lanka has informed China the project will proceed, Finance Minister Ravi Karunanayake has told Hong Kong’s longest established English daily, the South China Morning Post, that necessary clearances have been granted. He did not specify what was granted.

The project is expected to start in February. That coincides with the dawn of The Year of The Monkey, the Chinese New Year on February 8.

But approval had been given earlier by the ousted Rajapaksa regime. Prominent figures in the current government cried wolf for months that the project was rotten, unnecessary, and wasteful and campaigned for its abolition. After much hot air, they then settled for a suspension.

Now the unsolicited, seafront luxury property project which includes a marina has got a gift from Karunanayake’s budget. He allowed tax free luxury yacht imports, while diluting subsidies for the poor.
China gets the monkey off its back with Port City luxury property deal re-start | The Sunday Times Sri LankaSocialTwist Tell-a-Friend

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