'Country needs to improve exports, curtail imports' -Minister
Deputy Minister of Finance and Minister of International Monetary
Cooperation, Dr. Sarath Amunugama stressed the importance of adopting
new strategies to increase exports, as the country had a very dismal
record of exports.
Dr. Sarath Amunugama
The minister said that the export oriented sectors including apparel,
tea, gem and jewellery, should play a vigorous role in promoting
exports. "We have to join the manufacturing and supply chain as Chennai
was, transforming into a motor centre in the region," he said.
Speaking at the meet, organized by the Organization of Professional
Association, Dr. Amunugama said that the country needed desperately to
improve exports and curtail imports. He said that the country was no
longer in a position to spend money on consumables such as motor
vehicles, for which a large sum of money was out-flowing. The minister
said that the tax revision would be of no help to the economy if the
revenue derived from such tax revisions was used to provide subsidies.
Dr. Amunugama opined that the country should have Foreign Direct
Investment to maintain a consistent growth level at a level of eight
"The country has to push exports," he said. The minister also said
that the country had only US$ 800 per capita income ten years back,
while country today enjoys a per capita income of US$ 2200.
"The people should realize the immense potential in us and we have to
sustain a continuous economic growth of above seven percent to achieve a
target of US$ 4,000 per capita income by 2016.