Private sector's contribution sought to make 2007 an Industrial Year

COLOMBO: Contribution of the private sector is compulsory to make the year 2007 an Industrial Year as the economic development rate in the island has to be maintained at eight per cent or more, Industrial Developmetn Minister Kumara Welgama stated.

He made an open request to all private sector industrialists to extend their fullest assistance in this regard.

Minister Welgama was addressing a conference of industrialists and public officials held at the Ministry Auditorium to obtain ideas and proposals from all parties on the nine Industrial Advisory Committees appointed by the Ministry.

This conference was organised under the second phase of the United Nations Industries Development Organisation (UNIDO) industrial supporting programme.

The Ministry has appointed 15 Industrial Consultancy Councils for each industrial sector with representation from all sectors including public officials, university representatives and private sector representatives.

The chairmanship of these advisory committees is held by a set of well-experienced industrial experts selected from the private sector.

Under the first phase, the Ministry has made arrangements to prepare plans for ceramics, electrical and electronic, leather and footwear, motor vehicle components, steel related industries, tea manufacturing machines, coir, packaging and processed foods, pharmaceuticals and perfume industries, the Minister added.

Minister Welgama said, "If we are to overcome the development challenges of our country we have to maintain the economic development rate at a minimum of 8 per cent or more.

For this, a high contribution has to be received by the industrial sector. A great responsibility lies with those who represent the industrial sector and my ministry as well.

Our ministry is implementing various programmes. During last year, we launched the "Gamata Karmantha" project to implement the establishing of Divisional secretariat Division based 300 industries programme introduced by the President.

Already 60 projects have been approved. Some projects have started production and many industries have started construction.

Another important project is the establishing of Regional Industrial Estates as a solution to the problems arising on infrastructure in establishing Industrial Estates in various provinces.

We have taken steps to re-vitalities and improve factories which were inactive in Government Corporations and other institutions.

In our country, the import cost exceeds the export income. We have to take productive steps to rectify this. It is very important to quantitatively and qualitatively increase the industrial exports which provides 76 per cent of the export incomes.

Due to this we must select stable industries which could win over the foreign market and take steps with the participation of the Government and the private sector to develop them.

Our Government has made Free Trade Agreements with India and Pakistan and we should obtain maximum benefits for our country under these agreements. We should manufacture products to win over the South asian market.

By winning over markets in these countries, we could obtain great benefits. The European Union too has provided a lot of tax concession to our country.

Any other country in South Asia or Southeast Asia has not been provided with these benefits.

We must take action to make a stable industrial sector to make maximum use of these opportunities."