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| Monday, 27 December 2004 |
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Gem trading floor to set up in Ratnapura A Gem Trading Floor operating in the lines of the Stock Market will be established in Ratnapura to facilitate the Gem Trade said the Minister of Advanced Technology and National Enterprise Development Rohitha Bogollagama addressing a meeting attended by a large gathering of Gem Traders, Miners, Members of the Ratnapura Trade Chamber. The Minister further said that all transactions of the Trading floor will be tax free. Foreign buyers will be able to purchase their requirements direct from the Trading floor. "I have already discussed this with the Treasury he said. Facilities will also be provided for direct exports from the Trading floor to any part of the world," he said. The Minister said that as a first step arrangements will be made to relocate the Head office and all relevant divisions of the National Gem and Jewelry Authority from January next year. "Our income generated from the export of Gems and Jewellery is US$ 60 m from the whole sector. But as we earn US$ 60 million as a country from one particular sector one company in the Garment industry earns US$ 460 million which is 10% of our total export income. Compared to that what we earn from the Gem industry is not sufficient. That is why I have targeted to develop this sector by formulating a systematic policy framework," the Minister said. Members of the Gem Trading community raised several issues pertaining to the industry. Among them were taxes imposed by the Budget, difficulties in obtaining Lands owned by estate management companies for mining and Environmental issues. The Minister said that in order to find solutions for the issues raised he will initiate discussions with all relevant agencies and a committee will be set up to act as a one stop clearing house. He said that Entrepreneurs will be encouraged to use new technology in Mining which will minimise the impact on the environment as the policy of the Government is to obtain the maximum use from this valuable resource. The Minister handed over cheques to the value of Rs.50,000/= each on behalf of two miners who died of an accident while at work. Dry rations were also distributed among people involved in the Gem Mining to commemorate late Dr. N. M. Perera former Minister of Finance and Founder of the (then)National Gem Corporation. The Minister inspected the activities of the Ratnapura Regional office of National Gems and Jewellery Authority and had discussions with the members of the staff. Deputy Minister of Advanced Technology and National Enterprise Development Hussain Bhaila, Chairman National Gem and Jewellery Authority Asoka Jayawardena, Chairman Sri Lanka Export Development Board Rohantha Athukorale, President of the All Ceylon Miners Association G. Guruge Secretary U. G. Chandrasena were also present. |
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