Tuesday, June 25, 2024

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President Wickremesinghe Aims to Revive Sri Lanka’s Construction Industry, Boost National Economy

Sagala Ratnayaka, President’s Senior Adviser on National Security and Chief of Presidential Staff, highlighted President Ranil Wickremesinghe’s commitment to revitalizing the construction industry in Sri Lanka and its significant contributions to the national economy. During a meeting of the “Executive Committee on the Revival of the Construction Industry” held at the Presidential Secretariat, the government’s efforts to address the challenges faced by the construction sector were extensively discussed.

The committee reviewed the progress of decisions aimed at providing relief to industry stakeholders, finding solutions to the economic issues that had previously impacted the construction industry in the country.

Furthermore, the committee members assured that the government would settle the three-month-old arrears owed to builders within the month of August, providing much-needed financial support to the struggling sector.

Ratnayaka emphasized the government’s determination to swiftly restart development projects that were previously halted due to economic challenges. With the success of the debt optimization program, there is optimism about recommencing these projects, especially those supported by foreign aid from institutions like the World Bank and the Asian Development Bank.

To facilitate this, Ratnayaka directed officials of the Foreign Resources Department to provide a detailed report on the progress of development projects implemented with external support, ensuring transparent planning and execution for the country’s economic growth and infrastructure development.

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