13 far-reaching proposals aimed at increasing the construction industry’s GDP contribution to the economy by providing emergency relief have been submitted to President Ranil Wickremesinghe, Urban Development and Housing Ministry Secretary W.S. Sathyananda disclosed.

20 per cent of the country’s population livelihood depends on the construction industry and it is essential to prevent the total collapse of this sector from the present set back, he added.

The Finance Ministry will consider these proposals including the pre-budget submissions of the construction sector stakeholders during the budgetary meeting with the high officials of the ministry to devise budget proposals, senior official of the ministry said.

He added that most probably the easing of taxation on building materials specially cement and steel imports will be considered as the committee on public finance (COPF) has already informed the Finance Ministry that there has been unusual increases in prices and shortages of construction materials in the local market.