Imports restriction gives opportunity to boost production: President

Wednesday, 24 June 2020 00:10 - - {{hitsCtrl.values.hits}}

Tells industrialists Govt. ready to support manufacturing of everything from brooms to medicine

Opportunity is now open to commence productions in many sectors with the limiting of imports of several non-essential items, President Gotabaya Rajapaksa said.

As pledged in ‘Saubhagyaye Dekma’ policy statement the way has been paved for a people-centric production economy. The current challenge before the industrialists is to win the domestic and global market, President observed.

President made these comments during a discussion with the members of the Inter-Ministerial Task Force on Industrial and Enterprise Development held at the Presidential Secretariat on Monday, a statement released by the President’s Media Division said.

At present there are several tasks before to be performed by businessmen. They include satisfying consumer needs, creation of new industries and introducing new technology to the country. President emphasised the importance of maintaining the highest possible level of standards in every product manufactured and every service provided in the country.

The Government apparatus is geared to assist the industrial sector. The ground work including the provision of loans at single digit interest rate has been laid. President Rajapaksa said he expects the industrialists to show results by manufacturing an array of goods ranging from brooms to medical drugs domestically.

It is not the Government’s policy to encourage imports of agricultural products while giving encouraging farmers to grow locally. President Rajapaksa further said that as the Government moves forward with a steady policy, there is an environment for the farmers to understand the market demand in a similar manner like industrialists do.

Representatives of several fields including motor vehicle assembly industrialists, motor spare parts manufacturers association, packaging manufacturers, power cables industrialists, national marine manufacturers association, metal industrialists, leather industry advisory committee, rubber related products manufacturers association, advisory committee of electrical and electronic equipment, timber and timber-related products industrialists association, joint apparel association forum, apparel industrialists, cosmetic manufacturers association and advisory committee on the drug manufacturing attended in this meeting.

Industries Minister Wimal Weerawansa, Secretary to the President, P.B. Jayasundera and Ministry Secretaries participated in the discussion.