Stimulus package for value added exports
Uditha Kumarasinghe and Irangika Range
Exports Development and International Trade Minister Prof. G.L.
Peiris told Parliament yesterday that the Cabinet of Ministers have
approved an economic stimulus package to reward manufacturers engaged in
value added exports managing their vulnerabilities and risks, despite
the current global economic crisis.
The Export Development Reward Scheme (EDRS) has been introduced by
the Government under this stimulus package to benefit the exporters.
The scheme is administrated by the Presidential Special Task Unit on
Economic Development under the direction of President Mahinda Rajapaksa
with the assistance of the relevant Government Institutions and the
private sector to facilitate and provide a co-ordinated support to
ensure that exporters sustain their exports and the level of employment
in global trade amidst the prevailing crisis.
This scheme will assist export industries to secure their existing
markets, penetrate new markets, establish and promote backward linkages,
diversify and increase value addition, maintain the existing level of
employment, compliance with environment regulations, quality standards
and other best practices in exports.
The eligible exporters having satisfied the export performance at the
end of each quarter of 2009 should submit their EDRS claims within 45
days to the Sri Lanka Export Development Board (SLEDB) with the relevant
documents. The appointed steering committee will decide on these claims
and if approved will inform the SLEDB to pay the claim immediately.
Exporters who submit their claims with a 100 per cent bank guarantee
could get their rewards within 30 days.
The others will get their rewards only after approving the committee
the recommendation. The Treasury will provide required funds to the
SLEDB for this purpose.
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