President Ranil Wickremesinghe has unveiled plans to provide concessions to those engaged in the gem and jewellery sector. This initiative comes in response to the challenges faced by the industry, with the President emphasising the importance of addressing these issues to support those involved in the field.
By offering solutions to the problems in the industry, relief will be extended to its stakeholders, ensuring their continued growth and prosperity.
The President said that immediate changes to the tax policy are not feasible. However, efforts will be made to devise an effective system to enhance the gem and jewellery industry. The President directed officials to develop a viable system to bolster the gem and jewellery industry.
He instructed them to collaborate with the public and private sectors to draft a proposal addressing these issues within two weeks.
President Ranil Wickremesinghe was speaking at a discussion on Friday, March 15 at the Presidential Secretariat with stakeholders from industry. Extensive discussions were held regarding the challenges arising from the Government’s new tax policies, which have had repercussions on the gem and jewellery industry, along with other pertinent issues concerning the sector.
President Wickremesinghe emphasised the need to focus on boosting gem exports and enhancing the value-added processes.
The President unveiled plans to initiate mining operations in the Sabaragamuwa Province and the Nuwara Eliya district in the future. Gem businessmen will have ample opportunities to venture into mining in these regions.
The President said that a survey will be conducted to explore the feasibility of setting up gem and mining enterprises in other regions of Sri Lanka.
