INSUBCONTINENT EXCLUSIVE:
facing the construction industry in Sri Lanka in light of the current economic crisis.The meeting was chaired by Senior Advisor to the
President on National Security and Chief of Presidential Staff, Sagala Ratnayake, who stressed the need to systematically address the
problems facing the construction sector.This executive committee will comprise representatives from the Office of the President, Finance
Ministry, Urban Development Authority (UDA) Sri Lanka Institute of Development Administration (SLIDA), Irrigation Department, Water Supply -
Drainage Board, Transport - Highways Ministry as well as stakeholders from the private sector.At the committee, various problems affecting
the industry, such as high bank interest rates, import restrictions and customs duties, and payment mechanisms for government projects were
also taken up for discussion.In particular, Ratnayake highlighted the need for a clear agreement on payment timelines to help streamline the
concerns, and heads of relevant line agencies attended the meeting
construction industry in Sri Lanka and reviving it during this economic crisis, the PMD said further.
