News : Construction Industry Development Authority

Public Finance Circular

10 02 2023 - 17:30 PM

Introducing measures for sustaining and upgrading the Construction Contractors in Sri Lanka focusing on inflationary and other industry issues

"Construction Industry Development Authority (CIDA), as the apex regulator of the industry, identifies the issue of changing of money value of projects due to inflation as an obstacle for the smooth flow of the industry. As it affects the undertaking limits of Contractors, as a temporary relaxation, CIDA in liaison with the Department of Public Finance of the Ministry of Finance has proposed a revision for the PFD Circular 04/2016 which caters for values below Rs. 50.0 Million benefiting medium and small scale contractors initially, until a proper change is done"