‘progressive in nature’ | Sunday Observer

‘progressive in nature’

The senior consultant for Ports and Airport of the Strategic Enterprise Management Agency (SEMA) Rohan Masakorala said “This budget is progressive in nature and has a holistic approach to socio economic development. It is good for the overall development and growth of the country. The implementation process needs careful consideration and a streamlined action plan is necessary for budget proposal implementation.”

The Canned Fish Manufacturing Association of Sri Lanka President Shiran Fernando said that the association is happy that the government has taken note of the fisheries sector as an important segment of the economy. The government has given wider facilities under Budget 2018. As the maritime sector plays an essential role in the economy, the government has understood the drawbacks in the sector and has taken initiatives to address them, he said.

Measures taken to develop east coast fishing are positive steps towards developing the fisheries industry. The proposal to fund up to 50 percent of the trawler cost will also contribute immensely to the growth of the industry.

“It is encouraging to note that the government has taken note of the fact that the fishing industry is underdeveloped and needs assistance in the long run,” he said.

Budget 2018 has identified the Export Development Board (EDB)

as a key government institution to double export earnings by 2020. While supporting the local export sector, Para tariff over 1,200 imported items will be removed this year in line with commitments made to the World Trade Organization.

“We see the facilities given to the entrepreneurs, especially the exporters as an encouragement to reach the government’s ambitious target of US $ 20 billion exports by 2020.

The EDB will support the exporters in every possible way to contribute more and enhance value addition in the sector,” a senior EDB official said.

The National Export Strategy has been recognized by the 2018 budget and we will be implementing it for the benefit of the export sector shortly. Further, Sri Lanka needs a tradeable sector-led growth model to fast track the country’s development, she said.

“The National Export Strategy is a national plan and we have over 500 public and private

sector stakeholders’ contribution in formulating it.

It focuses six product sectors for the diversification of the product basket without neglecting the matured sectors in the exports,” she said.