The Sri Lanka construction sector is looking at good times ahead with businesses opening for them, said Immediate Past President of CCI Maj. (Rtd) Ranjith Gunatillike.
He was speaking at the Chamber of Construction Industry of Sri Lanka’s soft launch of premier event –Build SL 2024 at the Hotel Galadari on Wednesday.
Build SL 2024 is due to be held from May 10-12 at the BMICH.
He said that one reason for this is the country’s economic improvement and also donor funding specifically for road development and other sectors.
The Government too had paid around 70% of long standing dues to local constructors and this too has given an impetus for the sector.
With Government offering casino licences to an hotel chain operator it will open other similar investments which will also benefit the construction sector.
He said that cost of local production is still very high and one of the main reasons for this is the high cost of building materials. “We hope that with the rupee strengthening and globe freight charges dropping this too would be corrected.”
He also said that lowering of interest rates too would help some of the stalled projects to be launched.
Though there are some stalled apartment projects we still do not see them being implemented.” President-elect Manila Fernando said that politicians too have to more responsible towards economic development specially in Parliament “Subsequent to the Budget been passed it parliament political parties opted to take a full day to discuss cricket diverting from other serious matters that would have helped the country.” – SS
