It has been identified that most of the contracts in relation with Government’s Infrastructure Development projects are exceeds the engineer estimates and the cost is being increased during the execution.
Accordingly, cabinet of ministers approved the proposal made by Mangala Samaraweera, Minister of Finance and Mass Media to establish a Cost Estimate Review Committee consisting of respective officers under the Ministry of National Policies and Economic Affairs, in order to review the total cost estimates and Contract cost variances of infrastructure development projects under the authority of cabinet appointed procurement committees.
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