Lankan economy resilient

Rohan MATHES

Enterprise Development and International Trade Minister Professor G.L. Peiris claimed yesterday that despite the global economic crisis, Sri Lanka’s economy will continue to grow at a consistent rate of around 6.5 per cent.

Addressing the weekly Cabinet press briefing at the Government Information Department Auditorium yesterday, Professor Peiris told journalists that the Western Province was fast developing at a threshold around 14 percent , like India and China.

This is no coincidence he said, but a situation brought about by the policies adopted by President Mahinda Rajapaksa.

His Government’s prudent economic management and its wholistic, conscious and deliberate approach, in all the sectors of the economy, has steered the country towards vibrant economic development.

He pointed out that with the dawn of tranquillity and sustained peace to the country, there is now a ray of hope for an enhancement and a renaissance in investment and exports, both by local and international entrepreneurs, with more focus on the local investor.

An array of incentives and far-reaching proposals introduced therein by the Board of Investment (BOI), will act as a catalyst to this process. Nevertheless, much emphasis has been laid on indigenous industries and the protection of employment within the country. The A9 road has been re-opened now. The AIRTEL Company, one of the largest companies in India among others, has commenced its businesses here.

Peace has been the greatest asset in all these endeavors. Peace and development go hand in hand together, as the two sides of the same coin, Professor Peiris noted.

In the collapsing global banking sector, the Government has taken timely and prompt action to restore the confidence of the people. In the leasing sector too, pragmatic measures to grant relief to the customers in difficulty, have been proposed by President Rajapaksa.

The Cabinet of ministers will study these proposals and soon decide on the formulation and implementation of the same.

Cabinet Spokesman and Media and Information Minister Anura Priyadarshana Yapa addressing the press conference lauded the statement made by the Indian External Affairs Minister Pranab Mukherjee in the Lok Sabha Wednesday, on the issue of releasing all civilians held hostage by the LTTE. He praised the stand taken by the Indian Government therein.

Minister Yapa also informed that despite the recent increase in the price of refined petrol in the world market to around rupees 131 per litre, the Government has decided to maintain the same price of rupees 120 per litre and bear the losses incurred in the process, and grant relief to the masses.