Expert committee to help construction sector tackle challenges

The struggling construction sector, which showed signs of increased activity last month, will have an expert committee to investigate and propose solutions for the issues faced due to economic conditions.
According to a statement by President’s Media Division (PMD), the decision to establish an expert committee was made by President Ranil Wickremesinghe during a discussion held at the Presidential Secretariat this week that was attended by industrialists from the construction sector.

The committee appointed by Wickremesinghe will include experts from the Ministry of Finance and Ministry of Urban Development and Housing in the committee formation process. Furthermore, he assured relief for industrialists across various sectors through debt restructuring in the following year.

The discussion also delved into the issues faced by contractors of all scales and parties within the construction field, including the revival of stalled projects, the establishment of an investment-friendly environment, the promotion of construction services, and alternative funding and contracts.