Construction boom projected

Construction, Engineering Services, Housing and Common Amenities Minister Wimal Weerawansa said that the government expects a growth of 11 percent in the construction sector in 2011.

The minister said the growth rate in the construction sector in the last year was nine percent.

A vast improvement in the sector could be expected by the end of the year. Minister Weerawansa made these observations at a seminar at the Sawsiripaya Auditorium, Colombo on Tuesday to make contractors in the construction field aware of taxes relating to the construction sector.

The minister said that those involved in the sector are rendering a great service together with the government officials in other sectors to ensure the development of the country.

He said benefits from the government should also be made available for small scale construction companies.

The minister said that there were 35 tax systems operative in the last year.

President Mahinda Rajapaksa took action to minimise the burdens of such tax payers by removing obsolete taxes, he said.

Inland Revenue Commissioner General K.M.S. Kandegedera also spoke.