PM promises new lease of life to Laksala

Prime Minister Mahinda Rajapakse addressed a discussion attended by female employees of Laksala and its affiliate craftsmen and women at Temple Trees with the intention of giving a new lease of life to Laksala founded by late Prime Minister Sirimavo Bandaranaike and former Minister Siva Obeysekera.

Addressing the participants the Premier stated that countries like China, Japan, Singapore, Malaysia and Thailand which were on par with us in economic development at the time of Sri Lanka gained National Independence, are today major rivals in world economy while Sri Lanka is lagging far behind them owing to the absence of a definite target and a far-sighted economic programme.

He said that having identified this anomaly in its proper perspective he has under his Presidential Election Manifesto "Mahinda Chintana" suggested a policy giving prominence to local craftsmanship, indigenous resources and industrial expertise that will utilise modern technology.

The Premier said that he expects to authorise a five year tax exemption to industrialists who target foreign markets by using 75 per cent indigenous raw material and he will make use of the Free Trade Agreements with India and Pakistan to bring fruitful results to uplift indigenous industries.

"I am not at all prepared to entrust the future of our economy to a handful of multinational companies or a few individuals.

"I hope to establish 300 large scale factories at the rate of at least one factory under each Divisional Secretarial Division throughout the country," assured the Premier.