January 04, Colombo (LNW): During the inauguration of a new three-story restroom for train drivers at Maradana Railway Station, Transport, Highways, and Mass Media Minister Dr. Bandula Gunawardhana emphasized the crucial need for a shift in attitude to rebuild investor trust in the country.
Reflecting on the Railways Department’s dire state upon assuming office, the Minister highlighted the initial perception of its irrecoverability and potential privatization. However, through collaborative agreements with all trade unions, he initiated a process to address these challenges.
Acknowledging the economic strain faced by major construction companies, he underscored the exhaustive expenditure on materials, infrastructure, and machinery, predominantly funded by domestic and foreign loans. Notably, current circumstances pose hurdles in obtaining further foreign financial support.
Highlighting the halted reform of the North railway line, originally slated under the 2019 Indian Credit Scheme, he outlined the need to pivot toward private sector investment in managing existing assets to generate revenue. The proposed Station Plaza concept, featured in the Budget, aims to leverage private investment opportunities in projects like tourist hotels, supermarkets, and railway towns while maintaining Railways Department ownership over stations.
While similar proposals for stations like Colombo Fort and Maradana have previously lacked investor interest, the Minister called for collective efforts to transform the Railway Department into an efficient and effective organization for future generations.
The event saw participation from Railways General Manager H.M.K.W. Bandara, Deputy General Managers, representatives from trade unions, and various stakeholders.
