|
|
 |
 |
 |
| Monday, 26 January 2004 |
 |
|
 |
Business | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
Local industrialists welcome SLFP-JVP economic policy by Lionel Yodhasinghe The local industrialists yesterday welcomed the economic policy of the SLFP-JVP alliance as it has proposed more concessions and incentives to local industrialists expecting a rapid boost in the local manufacturing sector. Members of local industrialist chambers told the Daily News that the present economy is focused mainly on imports while the local industry is almost neglected. Once a country toes on such an economic line, the country's foreign exchange will be drained heavily putting the national economy into to difficulty as import and distribution business cannot generate income and sufficient employment. Therefore, whatever the political party trying to gain power is immaterial for local industrialists. We matter only those who really want to protect the local manufacturing trade by facilitating and giving them necessary support, they said. The Ceylon National Chamber of Industries Chairman Ranjith Hettiarachchi said that the alliance's policy on national economy was widely discussed in the executive member meeting last week and decided to categorically welcome the SLFP-JVP economic policy as it has given priority to local industry and agriculture. The Chamber has also decided that the following three factors to be taken into prime consideration by those who plan to administer the country. Hettiarachchi reiterated that the Government should continue with the cease-fire and start talks with the LTTE immediately in order to achieve lasting peace in the country - which is a must to carry on business. Secondly, another election being held under the present system would cost heavy expenditure; affect life and property only but it would not help resolve the prevailing political impasse to address the burning issues. We will see no solutions to the current problems in respect of the elections, then why should we hold another election to go back to square one therefore, the recommendations made by the Parliament Select Committee on Electoral Reforms chaired by MP Dinesh Gunawardene should be implemented in holding future elections, he said. Thirdly, any future Government should grant tax concessions and other incentives in order to boost local industry as it can generate employment, increase exports and swell the national income, he said. Hettiarachchi said that many Governments have boasted that the private sector is the engine of growth but they have neglected the local industry and promoted cheap imports. This has caused the markets to hoard with imported goods comprising articles from toothpicks to luxury items. This had drained our foreign exchange unnecessarily. Another scheme has further discouraged the local industrialists by imposing a duty of three per cent on raw material import in the last budget, he complained. "We import raw material to manufacture goods. Unlike finished goods, we do not earn any direct profit out of import of raw material. After all, we are doing a business to boost the local industry while generating employment so it is very unfair to impose duty on raw material and discourage the local industry," he said. Therefore the new alliance's proposal to raise the local industry is firmly welcomed by our Chamber, Hettiarachchi said. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
