One million jobs have been lost as a result of the collapse of the construction sector as a result of the economic crisis the country is currently experiencing, it was disclosed at the Sectoral Oversight Committee on easing the impact of the economic crisis.
The Construction Industry Development (CIDA) Authority, the Chamber of Construction Industry of Sri Lanka, architectural associations, various engineering associations, and representatives from associations representing small, medium, and large-scale construction companies across all provinces of Sri Lanka were present when this information was revealed.
Additionally, it was disclosed that linked institutions have also failed as a result of the collapse of this industry, their assets have been lost, and personnel have departed the country.
It was decided to direct the Ministry’s attention toward the immediate reduction of construction material prices, to take action with the Ministry of Trade and Commerce’s assistance, and to call government agencies and business representatives before the committee in accordance with the priorities determined before the next meeting.
