Financial Times

CCI says budget broadbased

The Chamber of Construction Industry (CCI) said in a statement that at a glance the budget appears to be more broad based and comprehensive than previous budgets.

Its President, Surath Wickramasinghe said in a statement: “The incentives given for power generation, export promotion, which we hope will also include Professional Services and for Furniture Manufacturing is encouraging. Allocation of 70,000 Ha. of land for Agriculture we believe is mainly for import substitution and the mechanism to facilitate early acquisitions of land for Road Development by using Treasury Bills for settlements of heavy compensation is noteworthy.”

Out of the Rs. 370 billion allocated for Capital Expenditure at least 50% will be for the 50,000 housing programme for the Defence Personnel, new Ports and Airport Development, Urban Development and other construction related work which is most welcome and will benefit the construction industry and we hope the work will be distributed in a fair and just manner to both the Public and Private Sectors. It is regretted that despite representations by the chamber, the budget has not made a policy decision to facilitate Public / Private / Partnerships to promote viable Mega Projects in Urban Regeneration, Infrastructure Development etc.”

Collection of the Construction Industry Guarantee Fund Levy as a Withholding Tax has been introduced without specifying the use of the Fund for Development of the industry. This fund should be further broadbased to provide Seed Capital to initiate Urban Regeneration in Cities and Infra-structure Projects.”

Top to the page  |  E-mail  |  views[1]
Other Financial Times Articles
CPC in debt upto $20 mln a month
Foreign Minister to hold talks with ambassadors to push tea exports
LMSL - JKH probe by CID continues
Harry's attempt to appoint wife foiled - Stassens saga
AMW to fast-track projects
Cosy budget as losses mount at CPC
Is greed or stupidity the cause of the world's financial crisis ?
IMF commends Sri Lanka, stresses need to tackle inflation, other risks
Chillies strapped for cash
SriLankan Cares begins Rs. 51 mln school project in Hambantota
Drop in Indian tourists - Ministry
Some consumer benefits but serious issues linger
Budget not defending country from global economic crisis, say professionals and exporters
Japanese grant for women in North-East underutilised due to conflict
Entrepreneurship most vital part of social enterprises
Garment sector breaks trends: brings work to the village
Hayleys profits hit by tough business conditions
Garment industry expected to get smaller next year
Aitken Spence results weakened by tourism, boosted by transport
CCC to enhance trade with Jordan, Kuwait
First time participant ICTA bags unique Infotel award
Durdans new hospital to open in end 2009
CMC to issue trade licences in 25 days
Sri Lanka, low risk, but still vulnerable to faster HIV/AIDS growth
New venture to develop high tech software for mobile communication
SML appoints Sumedha Fernando as Director Marketing
Sri Lanka to sign international cybercrime prevention convention
The Reggies Ad awards now in its 5th year
LMS Oil Tank Farm operates at snails pace
Keells hotels unveils new career website
Domestic producers to gain; defence spending on the rise
CCI says budget broadbased
Software industry invests in new talent
The global crisis, tea and the Sri Lankan economy
Making fraud legal
Sri Lanka will face latest impact of global crisis
No significant direct impact on economy from global crisis
SEC looks into fund managers
Exterminator celebrates 10 years in business
CIMA flexible payment plans expands with HSBC
LOLC firm not yet CB approved - Clarification
CB to ‘bogus’ finance Cos. : Pay up or face stern action
Haycarb compelled to import charcoal
Anniversary bash at Jetwing Vil Uyana
NTB deposits, loans higher than industry trends in 9-mths to Sept.
Golden Key software wins medal
Sri Lanka wins bid to hold international chamber conference here
Hayleys MGT’s 1H profit dips despite revenue growth
Gem sector to reach US$ 1 bln export earnings in 2010-Minister


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2008 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved.| Site best viewed in IE ver 6.0 @ 1024 x 768 resolution