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. |