Vice President of the Chamber of Construction Industry Sri Lanka (CCI) Nawaz Rajabdeen last week urged the government to initiate a bailout package to forestall an aggravation of the crisis which confronts the domestic construction industry.
Former terrorist turned politician Vinayagamoorthy Muralidharan (Karuna) with other guests at the event |
He emphasised the need to examine closely how India came to the assistance of its own construction sector. The Indian government in recognition of the plight of the sector pumped funds which helped the construction industry to tide over the decline, he said adding that the Sri Lankan government should follow this example.
Mr Rajabdeen was addressing a ceremony organised in Colombo to felicitate newly elected Vice presidents of the chamber including himself. The other two are Manilal Fernando and Nimal Lokuge.
Export Development and International trade Minister Prof. G.L. Peiris who participated as the chief guest disclosed that Sri Lanka has received a financial inflow of US$ 270 million in one day last week and it is a clear demonstration of the confidence of the entire world has in Sri Lanka.
"As a result of the IMF loan, there is no need for the Government to obtain loans from private banks. This would also help to maintain the value of our rupee in a stable position,” he said. |
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