Property developers propose setting up new association to fast-track approvals By Raj Moorthy View(s): View(s):While many local and foreign properties (both residential and commercial) are coming up in Sri Lanka with chunks of investments, clearing the paper work and getting the approvals from relevant authorities is always cumbersome. A panelist said, “It has taken more than five to six months or even a year for local property developers to get the approvals sorted. The panel also pointed out that there is poor coordination between the Inland Revenue Department and Board of Investment of Sri Lanka. “We are expecting around 40,000 to 60,000 people living in the port city while more than 200,000 people are expected to visit (daily),” he added. Foreign countries have made public transport the main mode of transport whereas in Sri Lanka the same public transport needs to be promoted among the public.

Source: Sunday Times March 04, 2017 19:30 UTC