PM Lee to deliberate over exempting preliminary economic assessment of megaprojects
- 5 years ago
At the weekly Cabinet meeting on Tuesday, Prime Minister Lee Nak-yon and government ministers will deliberate over which large scale economic projects will be exempt from the government's preliminary economic assessment.
The government has to review the economic validity of projects that receive over 26-million U.S. dollars in government funding.
But seventeen cities and provinces have requested a government exemption to projects such as building railways, highways, airports and hospitals.
The government is considering giving exemptions in some cases in order to promote "balanced regional development" as some regions didn't receive benefits from development projects in the past due to their low population.
There is however criticism that the exemptions could cause projects to be a drain on taxpayers money.
The government has to review the economic validity of projects that receive over 26-million U.S. dollars in government funding.
But seventeen cities and provinces have requested a government exemption to projects such as building railways, highways, airports and hospitals.
The government is considering giving exemptions in some cases in order to promote "balanced regional development" as some regions didn't receive benefits from development projects in the past due to their low population.
There is however criticism that the exemptions could cause projects to be a drain on taxpayers money.