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* Sri Lanka to promote local bidders for local projects
Thu, Mar 4, 2010, 11:00 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 04, Colombo: A proposal to increase the preference given to local bidders for local projects in Sri Lankan got approval today at the cabinet meeting.

The measure proposed by the President Mahinda Rajapaksa as the Minister of Finance and Planning seeks to increase the priority preference of 10% allowed by the government procurement procedure to 15 % in the evaluation of bids when local bidders compete with the foreign bidders for locally funded contracts.

It also requests all commercial bodies to give similar priority to the private sector for local construction industry.

The government says there had been a remarkable development in the local construction industry during the last few years with the elimination of terrorism and expects major development programs under the "Mahinda Chinthana Idiri Dekma" which will generate more job opportunities and expand the markets for raw material required for construction.

With the 60,000 housing construction programme under the "Mahinda Chinthana Idiri Dekma", road development projects implemented under foreign funds, water supply schemes, and expected re-vitalization of Urban Development, there will be major improvements in construction industry and this paves the way to strengthen the local construction industrialists, the President's proposal says.

The proposal is aimed at safeguarding the construction industry which collapsed due to the global economic crisis.

Private sector should also be encouraged to give priority to local construction industrialists and foreign industrialists should be deployed only in case where local industrialists cannot carry out such work, President's proposal suggests.

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