Fabricated metal products value increased in last decade

COLOMBO: The production value of fabricated metal machinery and equipment which was Rs. 8.5 billion in 1996 has increased up to 28.2 billion in 2005. This could be named as a regular victory achieved by the small and medium Industrial sector during the past decade, said Industrial Development Minister Kumara Welgama.

He was delivering the inaugural lecture at a conference under the theme of "Value Addition to Metal Scrap" organised by the Foundry Development and Services Institute at the Taj Samudra Hotel, Colombo with the participation of Foundry and Steel Industry Industrialists, Engineers, scientists and veterans in the field.

"Our ministry has established advisory committees for all the sectors with the objective of finding solutions to the problems in the Brass Industrial Sector and of the Industrialist through them itself."

A committee has been appointed for the metal sector as well. Until now, providing of solutions to the problems of Industrialists was done only by Government Officials as to experienced and veteran Industrialists in the relevant Industrial Sector have been appointed as the Chairman and the Secretary of these Advisory committees, they are well aware of the shortcomings in their sectors, he said.

The value of fabricated metal products, equipment and tools have increased up to Rs. 28.2 billion could be identified as a result of the various concession granted by the State to the industrialists.

Welgama said these industries have been able to carry out an especial task not only to earn foreign exchange; but also to generate employment.

Foundry Industrial Development and Services President Melvin Samarasinghe said: "today over 40,000 people are employed in the brass industry. The production value increase of the said industrialists remains at 200 per cent to 1000 per cent. If we look back at the past three years the price of raw materials have increased thrice.

The reason for this is the export of raw materials. According to export statistics only in the month of January this year 1,620 metric tonnes of copper has been exported at Rs. 450 per kilo. The government has to spend four times more for the importation of copper manufacture goods, than the income received by the exportation of these goods.

Minister Welgama took bold steps to suspend the export of raw materials for six months to minimise the said condition."

He said they have 400 of their water pump dealers islandwide and ave also established 20 service centers islandwide.

Foundry Development and Services Institute Advisor Prof. A.R.T. de Silva, Engineer A.N.P. Wicremasooriya, Edna Group Chief Executive Officer Sureah Dadlani, Engineer Sujatha Weerakoon, J.A.D.A. Perera, Sunanda Fernando and Dr. Nanda Fernando of the Moratuwa University also delivered lectures.

Additional Secretaries of the Ministry of Industrial Development R.V.D. Piyathilake, Titus Jayawardena, Director in-charge of the subject Epa Dayarathne, Railway Chief Mechanical Engineer S.M. Abeywickrama also participated.