Cabinet nod for Int’l Gem and Jewellery Trade Centre

• First phase to cost Rs. 365 m and to be built in Ratnapura
• Independent labs, banks and other services to be made available at centre
• Facility to be similar to those in Bangkok and Hong Kong
• Funding from Gem and Jewellery Authority

Cabinet yesterday approved Rs. 365 million to construct an International Gem and Jewellery Trade Centre in Ratnapura to develop the industry.

Cabinet Spokesman and Media Minister Keheliya Rambukwella said funds had been earmarked to construct the International Gem and Jewellery Trade Centre in Demuwawattha, Ratnapura by investing the funds of the National Gem and Jewellery Authority to enable sellers and buyers to avail all the services and facilities under one roof.

“Independent quality testing services and laboratory services as well as banks and export services similar to Bangkok and Hong Kong, which are the leading sales centres for gem and jewellery sales in Asia, have been planned,” the Minister said.

Accordingly, as the first phase of the project, it has been planned to construct a five-storey building with a floor area of 1,500 square feet at a cost of Rs. 365 million on a 22-perch extended plot of land in Demuwawattha, Ratnapura.

Under the second phase of the project it has been planned to acquire the adjacent plot of land and build a modern building with 14 storeys.

The proposal tabled by Industry Minister Wimal Weerawansa was granted by the Cabinet of Ministers to award the contract of designing and constructing of the proposed building as the first phase of the project to the Central Engineering Consultancy Bureau.

In addition approval was also given by the Cabinet to present to Parliament the new service charges listed out in a gazette notification released in March 2020. 

All orders issued by the subject minister shall be tabled in the Parliament for approval in terms of the provisions of Section 53 of the Gems and Jewellery Authority Act No. 50 of 1993. 

Accordingly, the Cabinet of Ministers gave their consent to the resolution furnished by the Minister for submission of the Gems and Jewellery (License fees) Orders No. I of 2020 published by the gazette notification on 2 March 2020 by the Minister to Parliament for formalising of charges of services rendered by the Authority.