Urban Development and Housing Minister Prasanna Ranatunga said that steps will be taken to promptly pay the outstanding bills to small, medium and large scale contractors in the construction field.
Attention of the Cabinet has been drawn to pay the contractors on an installment basis once the funds are made available from the treasury,” he added.
Industries in the construction field will have to face many big challenges in the next two or three years if the Government is not involved to protect them,” he added.
The Minister was participating in a discussion with a group of officials of the Construction Industry Development Authority yesterday at the Ministry.
The Minister also said a programme has already been started to recover all the small, medium and large-scale industrialists in the construction field. “We work to provide them with the financial advice they need since they are helpless being unable to pay the bank loans,” the Minister said.
“The primary focus has been on paying the outstanding bills in the past few years. Discussions are underway to give them investment opportunities in the construction sector, and to amend the criteria for directing them to projects implemented in nearby countries. Through this, foreign exchange can be brought to the country and their industry can be protected. Information has been received that nearly 1.3 million workers have been badly affected in the construction sector. It is the Government's responsibility to take care of the industrialists in the small, medium and large scale construction industry at this time. It is our duty to take all possible steps in this regard,” he added.
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