Friday Nov 15, 2024
Friday Nov 15, 2024
Thursday, 4 March 2021 03:24 - - {{hitsCtrl.values.hits}}
Cabinet has approved the appointment of an inter-institutional committee to increase value addition, resolve industry issues and make policy recommendations to the Government.
The Cabinet of Ministers on Monday approved a proposal submitted by Plantations Minister Dr. Ramesh Pathirana for the appointment of an inter-institutional coordination committee for the development of rubber cultivation and related industries.
The Government Information Department said the committee will be comprised of relevant line ministry representatives and headed by the Plantation Ministry Secretary. It will focus on increasing value addition of rubber products, resolving industry issues and providing policy recommendations to the Government.
The move comes as the Government attempts to boost production of rubber gloves, Personal Protective Equipment (PPE) and other items for imports to meet demand created by the COVID-19 pandemic. The rubber industry has also received a boost from high tyre production last year.
Growing global commodity prices are also expected to boost demand and prices by as much as 1% this year, according to a report released by ICRA Lanka. The Export Development Board (EDB) has set a target of $ 998 million earnings from rubber and rubber-based products this year.
