Construction chamber welcomes rural development budget proposals

CHAMBER of Construction Industry Sri Lanka (CCISL)President Deshabandu Surath Wickremasinghe says that they are pleased that the budget has not only considered Urban Areas but have considered in greater depth the development of rural areas. "This is commendable," he said in a release.

The 100,000 community based infrastructure and connected housing programmes for the rural areas will no doubt improve the quality of life of the people.

SME Bank once again with the incentives offered such as Credit Guarantee Schemes, venture capital financing will no doubt assist the manufacturers and suppliers of building materials and other products, small and medium contractors, professional services in the construction industry, and small and medium entrepreneurs in construction "the release adds.

"We have noted that a vast number of important and beneficial Infrastructure proposals in different areas have been identified in the Budget.

It is now critical that an implementation strategy for these proposals be formulated.

The CCI has already offered its co-operation and support to work with relevant state authorities in establishing in public/private partnerships for the rapid implementation of the projects.

We commend that our recommendation be implemented. CCISL have also noted that the Budget has proposed the distribution of 100,000 blocks of land as well as 60,000 housing units for shanty dwellers in Urban Areas. This is commendable.

CCISL also commended the proposal to assist the construction companies to import modern machinery on concessionary rates.

In addition for the provision of Rs. 200 million to subsidise interest cost. Further more to exempt from Customs duty for construction machinery and equipment and other building materials for the construction industry, it said.