Nadira GUNATILLEKE
COLOMBO: During the past three years Sri Lanka maintained a seven per cent Economic Growth. Sri Lanka acquired it with accurate and farsighted policies, Export Development and International Trade Minister Prof. G.L. Peiris said.
“Today Sri Lanka’s per capita income is US $ 1,630 and Sri Lanka is ahead of Indonesia and the Philippines,” he said. Sri Lanka has the second highest per capita income in the SAARC region, the Minister said.
Prof. Peiris was addressing the weekly Cabinet press briefing held at the Government Information Department Auditorium yesterday.
He said only the Maldives is above Sri Lanka when it comes to the highest per capita income in the SAARC region. The Government is taking all possible steps to make sure that economic benefits reach the people in remote villages.
Denying the persistence criticism by the Opposition on the National Budget 2008, he said the main theme of this year’s budget is strengthening the local economy and increasing local production.
Local production cannot be increased and improved without imposing taxes/tariffs on imported items. If the country wait until local production is in full swing to impose taxes local production will never increase. Local production increases only if there is significant demand.
There will be no increase in production if there are no incentives. The Government has allocated Rs. 1,000 million to find new International markets and has also allocated Rs. 500 million for the Export Development Bank. The Government has reduced the price of furnace oil which will assist the ceramic and apparel industries in a significant way.
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COLOMBO: During the past three years Sri Lanka maintained a seven per cent Economic Growth. Sri Lanka acquired it with accurate and farsighted policies, Export Development and International Trade Minister Prof. G.L. Peiris said.
“Today Sri Lanka’s per capita income is US $ 1,630 and Sri Lanka is ahead of Indonesia and the Philippines,” he said. Sri Lanka has the second highest per capita income in the SAARC region, the Minister said.
Prof. Peiris was addressing the weekly Cabinet press briefing held at the Government Information Department Auditorium yesterday.
He said only the Maldives is above Sri Lanka when it comes to the highest per capita income in the SAARC region. The Government is taking all possible steps to make sure that economic benefits reach the people in remote villages.
Denying the persistence criticism by the Opposition on the National Budget 2008, he said the main theme of this year’s budget is strengthening the local economy and increasing local production.
Local production cannot be increased and improved without imposing taxes/tariffs on imported items. If the country wait until local production is in full swing to impose taxes local production will never increase. Local production increases only if there is significant demand.
There will be no increase in production if there are no incentives. The Government has allocated Rs. 1,000 million to find new International markets and has also allocated Rs. 500 million for the Export Development Bank. The Government has reduced the price of furnace oil which will assist the ceramic and apparel industries in a significant way.
More.......
