CIOB meets President to discuss restarting of construction industry

From left: CIOB Vice President Jaikish Tudawe, CIOB Vice President Kalana Alwis, President Ranil Wickremesinghe, CIOB President Dr. Rohan Karunaratne, CIOB Secretary Eng. Saliya Kaluarachchi and CIOB Vice President Ruwan De Silva

CIOB President Dr. Rohan Karunaratne thanked President Ranil Wickremesinghe for taking steps for the rapid recovery of the country and construction industry, while presenting the CIOB’s ‘Road Map for Construction Industry 2023/2024’ to discuss and implementation. 
He further mentioned that the majority of contractor dues have been paid, moratorium loans were provided and creating a taskforce for the industry and thanked the president for making such 
swift decisions. 
In the lengthy discussion with the president, he explained that after September, the necessary action would be taken to restart the construction industry and by the year 2024, the construction industry shall have reached its usual position as a strong GDP contributor and pillar of Sri Lankan economy. 
He said the funding agencies may restart the projects by the last quarter and would be in full effect by 2024. 
CIOB Vice President Kalana Alwis noted that it would be of paramount importance if the banks could be flexible and supportive toward the local construction industry, until it regains the expected prosperity by the year 2024, for which President’s Chief of Staff Sagala Ratnayake noted that it has been discussed with the banks that it would be more suitable to be more lenient towards the construction industry until difficulties subside.
Responding to the queries raised by Jaikish Tudawe, the president said the government would be recommencing CEP II (Kadawatha to Mirigama) and CEP III (Pothuhara to Galagedara), including the tunnelling section by the Japanese contractors. 
Also, he mentioned that the Urban Development Authority’s Affordable Housing Projects would recommence, after rescheduling of the local and foreign debt is over. 
Though Dr. Karunaratne requested to explore the possibility of starting of an Infrastructure Fund or Exim Bank, the president noted that at this stage, it can be a burden to the government because the guarantees have to be provided by the government.
CIOB Secretary Eng. Saliya Kaluarachchi and Vice President Ruwan De Silva discussed promoting the construction industry overseas and getting support from Sri Lankan embassies to work towards gaining projects and Ratnayake iterated that cross-border guarantees and support would be gained for this purpose. 
Overall, the discussion yielded much success and resulted in the president further understanding the nature of the construction industry and promising the implementation of the construction industry road map submitted by the CIOB.