Battered construction sector waiting to see light at the end of the tunnel

By Sanath Nanayakkare

Nandana Ekanayake, the Chairman of INSEE Cement Sri Lanka said in Colombo on Friday that although his company’s business has been affected by more than 65% compared to last year due to the challenges faced by the construction sector, they have not closed down the plants or retrenched workers and keep absorbing all costs hoping there will be light at the end of the tunnel for the sevtor.

He said so speaking at the inauguration of Build SL Exhibition at BMICH Colombo on May 26.

The theme for this year’s exhibition – We Can Build Sri Lanka- resonates deeply with Insee Cement’s core values. It reinforces our unwavering belief in the potential of our nation and the construction industry to forge ahead the economy of Sri Lanka. As the leading cement manufacturer in the country, we understand the pivotal role the construction industry has to play in driving economic growth through infrastructure development and we are determined to play our role in a dynamic manner he said.

W. S. Sathyananda, Secretary of the Ministry of Urban Development and Housing said that President Ranil Wickremasinghe has established a committee to revive the construction industry in a way both the private and state sectors can work together to come up with remedial action to revive the industry.

“The construction industry is one of the industries tied to the economic sensitivities of the country. This is the hardest period of time ever faced by the construction industry. However, the government has not given up its duty to turn around the sector. Both the Ministry of Urban Development and Housing which is in-charge of the construction sector and the Chamber of Construction Industry and other major stakeholders are working in unison on that Committee. We have been able to come up with 50- strategic interventions to revive the construction industry. If we all work together we can rapidly revive it. As Secretary to the Ministry of Urban Development and Housing, I pledge my fullest support for all such endeavours. This Build SL exhibition is not an isolated event but it will be a land mark event that generates thousands of business opportunities,” he said.