Construction Industry
· Simplify various institutional approvals and license procedures pertaining to the construction industry
· Special presidential task force has prepared an estimate of raw materials……..RDA will prepare a special programme to obtain raw materials such as rock, sand, soil etc. from identified locations, minimizing the damage to the environment. All identified excavation centres will be assigned to the RDA and they will supply those materials to the construction industry without a middleman.
· Certain raw materials such as cement, premix, iron rods, bitumen that cannot be produced domestically will be imported in bulk without import duties.
· Vocational training institutions have planned to implement fast tracked training programmes facilitating the training of skilled workforce to match the labor requirement
· To ensure continuous payment pertaining to the contractors engaged in government sector projects, facilities will be proposed to be provided to obtain ninety percent of the value of the certified bills from the banks.
· I propose to exempt import tax on the import of machinery with modern technologies.
· I further propose to implement a treasury guarantee scheme for leasing companies to obtain the leasing payments for purchase of equipment required by small and medium-term entrepreneurs.
· In order to encourage the recycling and re use of material from construction, I also propose a ten-year tax holiday for investments in selected recycling sites
Road and Infrastructure
· Ruwanpura Expressway (Ingiriya- Kahathuduwa section) & Central Expressway (Kerawalapitiya-Meerigama, Kurunegala-Dambulla and Pothuhera-Galagedara sections), to be completed by2024
· To extend the marine drive up to Moratuwa.
· To construct a road from Kelani Bridge to Athurigiriya.
· To Construct Port Access Elevated Expressway.
· Construction of the national expressway network to be expedited. Colombo's Marine Drive to be extended to Moratuwa.
· 25 districts to be covered under a three-year programme to develop road infrastructure.
· To facilitate 12,000 of the most rural of villages to be connected to the external environment, we will allocate Rs. 7,000 million, to expedite the construction of10,000 rural bridges which have been designed to provide motorable access to small vehicles.
· Public Investments have been allocated develop bridges and by roads in Colombo.
· Railway network including Colombo and Kelani Valley to be expanded. Rs. million 1300 to be invested in this regard.
· To expand the railway network in Colombo and suburban areas
Residential
· Construction of 50,000 houses already underway under the Urban Development Authority. A 25-year loan with an interest rate of 6.25% to be granted for applicants of these state housing projects.
· Construction of fully-fledged housing complexes amounting to 50,000 houses for low and middle level income earners
Other Policies
· Steps are expeditiously underway to develop the Colombo Port City Special Economic Zone as an attractive business hub.
· A separate state company has been formed with the vesting of expressways and related assets
· Non-residents could purchase super luxury condominiums utilising, foreign currency earnings made in Sri Lanka, earnings in foreign countries or a loan obtained from a Bank outside Sri Lanka.
· I propose to implement various development programmes through public enterprises amounting to at least twice as the budget provisions allocated to them- For example, public institutions in the construction sector such as Kolonnawa Government Factory, Department of Buildings, State Engineering Corporation, State Development and Construction Corporation, Central Engineering Bureau, Railway Engineering Bureau, Sri Lanka Land Reclamation and Development Corporation can implement construction projects of the Government.
Source:https://www.scribd.com/document/484649604/Budget-Speech-2021-English#fullscreen&from_embed
