It
is proposed that a new authority be established to mobilize funds required for
financing the plan. This authority
- Will generate its own funds by exercising
its powers. Some of the sources are Betterment Tax
and development levies.
- May receive gifts, funds, donations grants and loans by the public and private
sectors, within
or outside Sri Lanka for specific activities under the development
plan.
- May be provided with funds from the Central Government, Provincial
Council and local
authorities
The
core area is part of the Colombo Metropolitan Region (CMR) and it consists of
Colombo, Gampaha and Kalutara Districts. The CMR covers about 369,420 Ha.. The
core area, on the other-hand, accounts for about 16,000 Ha. an approximately 4%
of the CMR. It includes the municipal councils of the city of Colombo, Dehiwela
Mt.Lavinia and Sri Jayawardenapura Kotte and a few local authorities in the Western
Province. The urbanisation in the core area is centred around Colombo which is
the largest city and the principle commercial centre of the country. The location
of the harbour in the heart of the city, which was the main factor for its origin
and growth as an important commercial centre in the 13th century, is contributing
significantly to the importance of Colombo as a major commercial centre in the
South Asian region. Colombo also became an important administrative centre during
the foreign occupation of the country. Until the British period, the city of Colombo
was confined largely to the north and south of the harbour. Its expansion started
gradually in the 19th century extending further to the north and the south as
well as to the east. The City of Colombo also dominates in terms of urban development
within the core area. Before the introduction of the liberalization and open economic
policy in 1977, the non-agricultural development was largely concentrated within
the city of Colombo. The rapid economic expansion since the economic liberalization
gradually spilled into the neighbouring regions of Colombo thus extending the
urban development much beyond the limits of the Colombo City
In
1977, the government declared "Urban Development & Housing" as one
of the three priority areas under economic liberalization and a key sector in
the process of national economic development. The focus on urban development as
a lead sector encouraged the provision of infrastructure facilities in the city
of Colombo in order to facilitate the expansion of banking, finance, insurance,
tourism retail and other commercial activities. The impact of this expansion was
reflected in the changing land use of the city of Colombo and the spread of urbanisation
beyond the city.
The City of Colombo will continue, to stand out as the most
important city in the national context in the 21st century as well. This importance
is due to the following:
·
Colombo Port is one of the fastest growing harbours in South East Asia. This importance
is attributed to its strategic location on a major shipping route and its competitiveness
in comparison to other harbours in the region. Its prominence as a harbour city
is likely to grow even further with the faster economic growth in Sri Lanka as
well as the Asian region in the coming decade.
·
Although some decentralisation of economic activities has taken place over the
last two decades, Colombo still attracts more investment than most other parts
of the country. Its economic base is much diverse and infrastructure facilities
are much more developed. Therefore, Colombo will continue to attract more investments
and grow even faster in the coming years.
