Daily News Online
   

Tuesday, 12 October 2010

Home

 | SHARE MARKET  | EXCHANGE RATE  | TRADING  | OTHER PUBLICATIONS   | ARCHIVES | 

dailynews
 ONLINE


OTHER PUBLICATIONS


OTHER LINKS

Marriage Proposals
Classified
Government Gazette

New life for idle factories

With the liberalization of the economy in the late seventies factories sprung up like mushrooms all over the country taking advantage of the tax concessions and various duty waivers offered by the Government.

The Government was only keen in providing employment to the youth since jobs figured prominently among the UNP’s election promises.

Some companies made a quick killing and wound up operations. Others used the lands leased out to them to carry out other business on the sly even causing harm and damage to the soil. Skeletons of these abandoned factories still abound in many areas with their structures decayed and overtaken by the elements.

The process saw an acceleration with the establishment of the Greater Colombo Economic Commission (GCEC) a forerunner to the present day Board of Investment (BOI) that saw the arrival of fly by night companies which lasted only a few months sufficient to amass enough loot that was taken away by these shady operators who were allowed to enter the country without their credentials being checked.

Today these buildings are standing idle most often on prime land denying valuable income to the State.

Hence the decision taken by President Mahinda Rajapaksa to reacquire all abandoned factories within the investment zones and revest them in the BOI could be termed a prudent one.

Addressing officials during Western Province Development Review meeting the President instructed them to gather information on all such non functional factories and take steps to acquire them.

With investors expressing keenness to open business in Sri Lanka now that there is no war in the country, all avenues should be explored to make available appropriate land and premises for these investors. It would be prudent to take over these abandoned factories and rebuild and modernize them to present day standards.

The State could earn substantial revenue by leasing out these premises for business ventures or to prospective investors. We say this because today land is at a premium with all available space being increasingly gobbled up for development projects and cater to the construction boom.

Besides these abandoned lands could be redeveloped by the investors themselves so that we will be spared the costs of attending to the task. Many of these abandoned factories house valuable machinery and fixtures which have either being cannibalized or gone to pot with disuse.

The Government should make use of this abandoned machinery and put them to appropriate use after effecting the necessary repairs.

Not only BOI factories, the Government should think of acquiring all abandoned factories and business premises that one frequently come across all over the country and put them to productive use.

Besides these factories are occupying vast acres of land which too are lying idle and could lose their productive value through neglect. Even in the city of Colombo one comes across hundreds of abandoned dilapidated buildings some dating back to the colonial times which is sticking out like a sore thumb marring the beauty of the city.

With the UDA now on a crusade to demolish unauthorized structures and other unsightly constructions with a view to plan out a new city it is hoped that these rambling old structures which also threaten to collapse any moment, too will be removed unless they bear any cultural or historical value.

In the alternative these could be given a new facelift and made more presentable as prominent landmarks in the city unlike the dilapidated state they are now in.

In the process no room should be allowed for unauthorized constructions and unutilized space and in this regard the orders issued by the President to remove all foundation stones from sites where no construction has taken place is a timely one.

Today one sees a proliferation of these foundation stones laid by politicians for opening of roads, bridges and culverts although the project has died a natural death.

This is not only a reflection of neglect but also demonstration of apathy which needless to say would only bring the opprobrium of the public on Government politicians. The President no doubt is aware of this and has out paid to the practice.

Today most of these foundation stones and plaques opened with much fanfare are overgrown with weeds with nothing to show for them. In future the Government should ensure the projects are completed within a specific time frame following the laying of foundation stones, lest it loses credibility in the eyes of the public.

Equal opportunities for all

The dominant feeling in Sri Lanka today is that we now have a unique and unrivaled opportunity that eluded us for two long decades. Now we need to get things done. To get things done you must empower the Executive

Full Story

Political expediency - danger to Democracy!

President Rajapaksa, having observed national degradation, was finally able to put a full stop to this political chicanery by eliminating terrorism

Full Story

A thank-you note, naturally

We expend more energy in complaining than in being thankful. It is not that we need to keep thanking people and being thankful for what we have, either to a divine entity or circumstances. The point is that we hardly ever stop to reflect on gratitude or reasons for thankfulness

Full Story

 

EMAIL |   PRINTABLE VIEW | FEEDBACK

www.lanka.info
Donate Now | defence.lk
www.apiwenuwenapi.co.uk
LANKAPUVATH - National News Agency of Sri Lanka
www.army.lk
Telecommunications Regulatory Commission of Sri Lanka (TRCSL)
www.news.lk
www.defence.lk

| News | Editorial | Business | Features | Political | Security | Sport | World | Letters | Obituaries |

Produced by Lake House Copyright © 2010 The Associated Newspapers of Ceylon Ltd.

Comments and suggestions to : Web Editor