The government has also identified the need to focus on developing regional infrastructure facilities in order to stimulate economic activities in the regions as well as to quickly distribute  BIS Review 88/2007  5  the gains of higher economic growth to the people who are living in remote areas. The ongoing “Maga Neguma”, “Gama Neguma” and “Neganahira Navodaya” programmes are particularly aimed at fulfilling this need. In the meantime, the Central Bank, in collaboration with the Finance Commission has initiated a new approach to examine new ways of maximizing the Provincial Councils’ contribution in the regional development process. We have observed that even after the existence of Provincial Councils for about two decades, the inequalities among the provinces still prevail and in fact have widened over the years. Hence, it is clear that we have to introduce a new and innovative strategy to develop our provinces. In line with this objective, as the first step of this new initiative, the Central Bank and Finance Commission, along with several other stakeholders, are in the process of identifying the issues, difficulties and potential of the respective Provincial Councils to improve the provincial contribution towards achieving balanced regional development. Finding ways and means to increase the private sector participation in the development process without solely depending on government funds is the key feature of this new approach. Not surprisingly, there will always be an intense debate about the trade-off between the growth momentum of an economy and the equitable distribution of benefits.
The per capita income is projected to increase further to around US dollars 1,500 by the end of this year and is expected to continue to increase during the coming years. So, there is a clear indication that we are growing amidst several challenges and that people are enjoying the gains of the growth although some may tend to down play or disregard these national gains for whatever reason. With increased personal incomes, we also observe that living conditions of the people are improving. I already spoke about it. But, at the same time, we would be the first to admit that a lot more needs to be done. We have to attempt to double our per capita income every 6-7 years from now onwards. We must also aim at increasing the per capita incomes in the provinces from the present levels of between US dollars 700-800 to at least US dollars 1500 in the next 6-7 years. That is not a dream. It can be done. Towards this objective, the government has clearly identified as a priority, the importance of having quality infrastructure facilities in the country. In that regard, mega infrastructure projects, particularly in the areas of power and energy, highways, rail roads, ports and aviation are currently being implemented. In fact, the government has given the highest priority in its public investment programme to complete these projects as early as possible so that development process would be accelerated.