Termination of BOI facilities to EPF/ETF defaulters

DIRECTIVE: The Government has ordered the BOI to terminate facilities provided to companies in the Export Processing Zones that have not contributed to the EPF/ETF.

The BoI has been further instructed that a deadline of two months time be given for the companies to pay their dues. This has been done after it was brought to the notice that eight enterprises from Biyagama EPZ and six from Katunayake EPZ have defaulted payments.

Minister of Enterprise Development and Investment Promotion, Rohitha Bogollagama gave the order at a meeting with investors and senior officials of the BOI when he visited the Katunayake EPZ. The Minister further said that the Government has taken all necessary steps to support and look after the investors to encourage them to expand.

It is also the duty of the investors to adhere to the rules and regulations of the country. We need quality investors in this country the Minister said.

This was one of the series of meetings organised to provide an opportunity for investors to interact directly with the Minister and bring out issues pertaining to improvements required to be made in the EPZ'S in the country.

Several issues such as high cost and the quality of electricity, supply of water, clearing the back log of VAT refunds to investors etc. The investors also commended the Minister for the interest taken by him to look after their well being.

Speaking on the issue of the high price of electricity, Bogollagama said that this is a problem faced by the whole country. As we depend on thermal power the price of electricity goes up with the escalating prices of oil. We are looking at the option of alternate methods for power generation for the use of industrial zones using coal power the Minister said.

Countries like China use coal power for their industrial zones he said. He invited investors to come forward to invest in these sectors.

The Minister further said that plans are underway to modernise the Katunayake EPZ where investments in BPO and IT services will be encouraged.

Chairman/DG BOI Prof. Lakshman Watawala said that the BOI will be setting up job banks in the provinces to attract youth to serve in the EPZ enterprises. He said that one of the main problems to attract people from outstations in the lack of accommodation facilities.

Watawala invited investors to set their own facilities to accommodate workers and said that the BOI will provide land and other support for them.