Wednesday Dec 25, 2024
Wednesday Dec 25, 2024
Wednesday, 22 May 2024 00:20 - - {{hitsCtrl.values.hits}}
It is not surprising that the construction industry has shrunk in the last four years by 65-70%. Due to this, industry professionals, quantity surveyors, architects, engineers, etc. are leaving the country. We believe that, by now, a few thousand professionals have left the country. More than this, the biggest issue we are facing is losing the skilled workforce in the country. We can see a light at the end of the tunnel by potentially starting a few projects in the country by 2025. However, the biggest problem that we will face next is that we have no skilled workers to do the construction work.
Sri Lankan skilled workers are famous in the world for our superior performance and skill. Without work, they are leaving the country and working in other industries.
Even at a time when projects are extremely scarce, it is increasingly difficult to find skilled workers in the country. Therefore, we ask the Government to restart the projects which have been halted and introduce a skilled training program to account for the loss of skills.
In the future, CIDA should become especially involved to ensure that one or two projects at least are left for the very few remaining small contractors, whose numbers have fallen from about 5,000 to 500, and the numbers are not getting any better anytime soon.
Untimely importation of vehicles
If the unnecessary import of vehicles is allowed, other than for sectors such as healthcare and tourism, the Central Bank of Sri Lanka would be prompted to release at least $ 1 billion. We as a country have defaulted on foreign debt. Our foreign exchange reserves are minimal and the economy is under fire. In this context, wasting our hard-earned dollars on such an unnecessary thing, will harm the GDP and the general public.
Rather, priority should be given to restarting construction projects that have been stopped. During the golden age of Sri Lanka’s construction industry, it contributed 9% to the GDP. If construction projects halted this GDP contribution can be brought up to at least 5%. Stoppage of projects have forced contractors to use bank loans to restart them. Now they are drowning in debt.
Remember, the construction industry is a sector where income is distributed from the highest to the lowest level of society. Therefore, starting construction projects will benefit the common people of the country.
(The writer is President, Ceylon Institute of Builders.)
