Pelwatte Dairy hails Budget 2021

• Appreciates govt. proposals to develop dairy industry

Pelwatte Dairy Industries, the local dairy giant consents to the budget 2021 tabled recently, and it expressed its appreciation towards the measures proposed to uplift the dairy industry and the local food production as a whole. 
It believes that they will further support Pelwatte’s mission of significantly contributing in the upliftment of all the stakeholders in the value chain; nurturing economic growth and importantly the well-being of the public.

Pelwatte Dairy remains highly committed to the sustainable growth of the dairy industry in Sri Lanka and seeks to steer this growth by empowering the farmers and their communities. Its ultimate goal since inception has been to make the country self-sufficient in milk production.  

The company is exceedingly eager to work hand in hand with the government and other stakeholders in the realization of this national goal. It believes in expanding its nutritious value additions around the country, and in doing so, wishes to improve lives and build economies.

The Budget 2021, which was tabled in the Parliament by the Prime Minister Mahinda Rajapaksain November covers several sectors under a macroeconomic vision and is considered to be rich in opportunities for the business community involved in the production of local goods and services. 

These special Investment Schemes are proposed to help navigate in the competitive setting of the global economy.

Pelwatte values sustainable practices that would be established in strategic frameworks that would create impact on lives. The company has identified that dairy development of utmost significance in the rural economies as it generates income and employment. It believes that the special loan schemes for dairy farmers with minimum interest will help families purchase dairy cattle, set up ecofriendly cattle sheds and purchase necessary equipment for sustainable dairy farms and production.

The proposals also include importing of potential dairy cows which would have a dairy yield of around 22 litres a day. This will be further reinforced by the concessions on establishing nutritious pasture cultivations. This will help the company increase its network of farmers and support in the deliverable visions put forth.

Pelwatte Dairy believes that the fiscal and monetary policy will support the cause. The proposals include several reliefs and benefits from tax holidays and concessions that will specifically help develop the agriculture and dairy Industries. 

The Strategic Development Act is to be imposed to provide benefits to several industries that includes dairy amongst others to increase its potential, especially in the changing landscape. 

This is in addition to special Tax concessions for companies that are engaged in producing milk products for exports.The measures are also wired to support implementation of the latest technological practices and in the enhancement of milk products. 

Commenting on the government’s measures in the budget to gradually improve domestic dairy production, Managing Director of Pelwatte Dairy Industries, Akmal Wickramanayake said, “Pelwatte has already pledged to boost the local milk industry to meet the domestic milk demand and uplift the socio-economic status of local dairy farmers. It will further support the economic ecosystem and recovery directly while boosting economic status of the farmers who are the most significant components of our value chain.”

The Department of Animal Protection and Health (DAPH) estimated the domestic milk production to be sufficient for 40 percent of the liquid milk requirement as at 2018. Development of the local dairy industry would ensure food security, milk sufficiency, reduce rural poverty and decrease malnutrition-based diseases.