Sri Lanka, Oct. 16 -- Half of the investors approved during an earlier round at Colombo Port City withdrew or are no longer proceeding, Parliament's Committee on Public Finance learned.

Members of the Committee on Public Finance questioned how the Colombo Port City Economic Commission evaluates ambitious proposals before gazetting them.

Reviewing 10 earlier approvals, Committee Chairman Member of Parliament Dr Harsha de Silva stated five applicants withdrew while five remained active.

Projects no longer proceeding include the Asiri Port City Hospital and the Gateway International Campus.

The Colombo Port City Economic Commission, chaired by Harsha Amarasekera, stated some named entities were in the pipeline but never gazetted.

The mo...