3-month-old arrears owed by Govt. to builders will be settled in August

Friday, 4 August 2023 00:00 - - {{hitsCtrl.values.hits}}

Sagala updates plans during meeting Executive Committee on Revival of Construction Industry

President Ranil Wickremesinghe’s aim is to revive the construction industry in Sri Lanka and contribute widely to the national economy.

This was stated by the President’s Senior Adviser on National Security and Chief of Presidential Staff Sagala Ratnayaka when the “Executive Committee on the Revival of the Construction Industry” met at the Presidential Secretariat on Wednesday.

The progress of the Government’s decisions to provide relief to those involved in the industry by providing solutions to the problems that have arisen in the construction industry in Sri Lanka, which collapsed due to the economic issues the country had to face, was also reviewed at length.

The committee members also pointed out that the three-month-old arrears owed by the Government to the builders will be settled within the month of August.

Speaking further, Ratnayaka stated that it is the Government’s desire to quickly restart the development projects that were implemented in the country under foreign aid and was stalled mid-way due to the past economic problems, and with the success of the debt optimisation programme, it will be possible to recommence them.

Accordingly, Ratnayaka instructed the 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.