The government stressed yesterday (03) its intentions to revive the country’s stalled construction industry by resuming the large infrastructure projects that were halted due to the economic crisis.
This crisis resulted in significant price increases due to high input prices and import restrictions.
Sagala Ratnayaka, the President’s Senior Advisor on National Security and Chief of Presidential Staff said that President Ranil Wickremesinghe aims to revive the construction industry in Sri Lanka and contribute widely to the national economy.
Ratnayaka made this statement during the meeting of the ‘Executive Committee on the Revival of the Construction Industry’ held at the Presidential Secretariat.
According to the Department of Census and Statistics, construction activities recorded a negative growth of 38.3 percent in the first quarter of 2023.
The government’s efforts to provide relief to the construction industry were discussed at length during the meeting.
The committee members said that the three-month-old arrears owed by the government to the builders will be settled within the month of August.
Ratnayaka stated that the government aims to revive the stalled development projects with the completion of debt optimisation and foreign support.
He instructed officials of the Foreign Resources Department to provide a report on the progress of the development projects implemented in this country with the support of the World Bank and the Asian Development Bank.