Plans to withdraw levy on gem and jewellery imports

COLOMBO: The Government plans to withdraw 1 per cent of Ports and Airport duty levied on gem and jewellery imports as an incentive towards this industry, said Enterprise Development and Investment Promotion Minister Sarath Amunugama.

The Minister was addressing the Gem and Jewellery Industrialists’ Association representatives at the Ministry in Colombo recently.

A Cabinet Memorandum in this regard will be introduced shortly, the Minister said.

“The Ministry will develop the gem and jewellery industry which earned vital foreign exchange for the country and generated a large number of employment opportunities”.

Dr. Amunugama said steps would also be taken to prospect and identify areas with potential for large-scale gemming through scientific means and introduce a systematic program to harness those resources.

It also proposed to conduct two Gem and Jewellery Exhibitions in Sri Lanka annually with exposure to products from Myanmar, Thailand and Madagascar. Initially there will be one exhibition annually and this will be increased to two exhibitions later on.

Dr. Amunugama said that State sponsorship would also be extended to the private sector to create new technological institutes required for the gem and jewellery industry.

Dr. Amunugama also advised the Association to deviate from obsolete strategies and resort to modern time saving techniques in exporting their gem and jewellery products.

BoI Chairman Prof. Lakshman R. Watawala also participated.

The Association delegation comprised Chairman Tennakoon Rusiripala, Vice President E. Megananthan, Secretary T. Piyadasa, Assistant Secretary Zaheer Kaleel and several others.