Friday Nov 22, 2024
Friday Nov 22, 2024
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Customs Strategic Plan for 2024 being presented to President Ranil Wickremesinghe and State Minister of Finance Ranjith Siyambalapitiya, Sri Lanka Customs Director General Sarath Nonis is also present
President Ranil Wickremesinghe yesterday hailed Sri Lanka Customs for its contribution in helping to overcome the economic crisis faced in 2022.
Speaking at the International Customs Day celebrations at the Colombo Customs Headquarters the President also expressed gratitude to all members of the Customs Department for their contributions to the customs revenue in 2023.
“The Customs Department holds a significant historical position, being considered one of the oldest Government departments in Sri Lanka. Historical records indicate that customs taxes were collected around 2000 years ago at the ancient port of Manthai. From the Anuradhapura era, through the Kotte era and into the Kandy era, customs revenue has played a pivotal role in the nation’s existence,” the President said.
“Customs duties, VAT and income taxes stand as the three primary sources of income for nations globally. In the contemporary landscape of international trade agreements, regional trade agreements and free trade agreements, our focus should be on enhancing income. To achieve this, the current customs services need to operate with efficiency,” the President said.
He further noted that upcoming Government legislation and modernisation initiatives will overhaul all public revenue-generating institutions.
“To achieve this, income must be generated from the existing economy, necessitating economic development. The pressing question today is how to facilitate this economic growth. The out-dated economic system is incapable of propelling the country forward. The reliance on daily loans led to the collapse of the country’s economy. It is imperative to overhaul this economic system for sustainable progress,” said Wickremesinghe.
“While we are unable to allocate additional staff to your department, your commendable performance highlights the potential for substantial revenue improvement. There is a considerable journey ahead, and the Government is firmly committed to the comprehensive modernisation of customs and other revenue departments, which includes the imminent introduction of new legislation,” he said.
“This initiative is a crucial component of the measures undertaken to steer the country out of the economic crisis. The decisions made in 2023 have paved the way for recovery from the economic downturn of 2022, although the journey is on-going. By the end of this year, our aim is to elevate the country’s income to 12% of the GDP. By 2026, we target a further increase to 15%,” the President added.
At the ceremony President Wickremesinghe delivered six Certificates of Merit to customs officials for rendering exceptional services to the International Customs. The Sri Lanka Customs Director General Sarath Nonis presented the Strategic Plan for 2024 to President Wickremesinghe and State Minister of Finance Ranjith Siyambalapitiya.
Additionally, a memento was presented to the President by the Director General of Sri Lanka Customs.
