National Chamber welcomes govt.’s economic policy outline

10 November 2015 06:30 pm Views - 1593

The National Chamber of Commerce of Sri Lanka (NCCSL) in a statement welcomed the economic policy outline given by the Prime Minister in a special address at Parliament on November 5, 2015. 

The NCCSL appreciates the measures taken by the government on sustainable economic policies, which would be beneficial for the country. Even with unfavourable global economic conditions, the government’s determination in strengthening the local economic growth and stability the NCCSL much appreciates. 

“Promoting innovation and productive growth, generating of one million job opportunities in the private sector, enhancing income levels, development of rural economy, ensuring land ownership to rural and estate sectors, the middle class and government employees creating a wide and a strong middle class, creating the background needed to enter the global value system are much appreciated. Encouraging small and medium and large-scale farmers and entrepreneurs to participate in the global economy, encouraging competitive international organisations to invest in Sri Lanka, bring about the digitization of the economy and encouraging local investments are also commendable,” the statement said.

It further stated that policy directions on empowering citizens through construction of housing schemes for the middle class in urban and semi-urban areas by offering tax concessions to investors those who come forward to fund these ventures, the focus on state-owned enterprises and measures to be taken to review them would be much favourable for the Sri Lankan economy. 

The NCCSL also commended ensuring transparency on all state purchases, working towards rural economic development with setting up of large-scale agricultural enterprises where farmers can be members and setting up of agro marketing authority which leads to growth of agri exports of the country. Use of new technology to maximize fishing capabilities will add much to the economy of the country it said.   

“Tea, rubber and paddy are considered to be critical agri products in our economy and the National Chamber welcomes quick measures to be taken to solve problems faced by these sectors and developing  these sectors will have greater positive  impact on our economy.

Further, the National Chamber hails measures taken on tourism development, skills development, foreign direct investment (FDI) attraction, women empowerment, low tax regime, reducing budget deficit to 3.5 percent, the super gain tax removal. It is with pride that the National Chamber mentions that many of the proposals are much in line with the National Chamber macro policy framework published recently,” the statement revealed.