Business community told . . . :

Lobby for GSP+ facility

Sanjeevi Jayasuriya

The business community should take the initiative to lobby for the GSP+ facility as its withdrawal would affect potential industrialists planning to set up garment factories in the North and the East, said Vice President of the SAARC Chamber of Commerce and immediate past President of the Federation of Chamber of Commerce Sri Lanka Nawaz Rajabdeen.

“It is unfair to withdraw the facility at this juncture when we have overcome a three-decade war. We are rebuilding and developing the war ravaged Northern and the Eastern provinces and we looking forward for investments.

This will send wrong signals to potential investors,” he said.

The action by the Western world would discourage investors and industrialists. This will also cripple our economy.

The GSP+ facility is year marked and it is a boost for the private sector. It will be a cushion for exporters too, he said.

The recent IMF stand-by loan facility was an indication of the credibility of the Government.

If the GPS+ facility is withdrawn it will have a reverse trend and this would affect employment generation and have a negative effect on the garment sector. This would be a calamity, he said.

The private sector should go forward and lobby for the GSP+ facility as they would otherwise feel the pinch immediately. The country needs to continue its development process. For this we need to protect the garment sector, he said.

The SAARC business conclave will be held in Sri Lanka from November 22-23. It was due to be held in Pakistan.

However, as a mark of friendship and improved security situation Pakistan was keen that Sri Lanka host the event providing us the opportunity to attract investors for the country’s development. Last year’s conclave was held in India.