🚧 Sri Lanka Construction Proposes Budget 2026/27 Revival Plan!

• The Ceylon Institute of Builders (CIOB) has submitted its Budget Proposal 2026/27 for the construction sector, seeking urgent policy intervention and financial relief after six consecutive years of stagnation. • Key Target: Restore the sector's contribution to 10% of Sri Lanka’s GDP and aim for an industry turnover of Rs. 2.97 Trillion (approx. US$ 9.89 Bn). • Core Proposals Focus on: • Restarting stalled national projects (roads, hospitals, housing schemes). • Supporting SMEs (currently facing a 40% failure rate) through credit guarantees, lower taxes, and digitalisation. • Establishing an Infrastructure Fund and concessional loan schemes (≤6%) to reduce reliance on high-interest borrowing. • Job Creation: Targeting over 1.5 million direct employment opportunities. • Promoting exports, FDI, and enhancing local material production to cut import reliance. • CIOB urges the government to recognise construction as a priority crisis-hit sector to facilitate immediate financial support and relief measures. • Expected Outcome: The plan is projected to complete 60% of stalled projects and revive 3,000 SMEs if adopted.