Home / Front Page/ Gem sector woes head to National Economic Council

Gem sector woes head to National Economic Council


Comments / {{hitsCtrl.values.hits}} Views / Saturday, 1 September 2018 00:00


President Maithripala Sirisena has decided to direct the issues faced by the gem industrialists to the National Economic Council, Minister Rajitha Senaratne said.

The Minister made this disclosure during a meeting held with the relevant stakeholders of the industry to resolve the issues faced by the Sri Lanka Gem and Jewellery Association.

Attention has also been drawn to exempt earnings from the export of gem and jewellery from income tax, Colombopage reported. The 0.5% export services fee by the Gem and Jewellery Authority has been seen by the industry as hampering exports. Other industry issues had also been discussed at the meeting.

The representatives of the Gem and Jewellery Association have pointed out that Sri Lanka is losing about $ 500 million foreign exchange annually due to current export policies.

The Gem and Jewellery Association states that the gems business is centred, including Madagascar, Nigeria and Mozambique, and there is a trend of declining income.

Minister Rajitha Senaratne emphasised that President Maithripala Sirisena has decided to discuss these issues of the gem industrialists at the National Economic Council (NEC) when it next meets. 


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

The Brahmin footprint in Sri Lankan history

Saturday, 17 November 2018

It is generally said that there are no genuine “Sri Lankan” Brahmins in the island today, and that those Brahmins who officiate as priests in Hindu kovils (temples) are of Indian origin with close ties with Tamil Nadu.


Country paying for Sirisena’s childlike behaviour

Saturday, 17 November 2018

Many were surprised on 26 October to see former President Rajapaksa being appointed Prime Minister by the very man who defeated him a couple years ago, at a considerable risk to himself and to those who helped him win the election. Then events beca


The JR-MR effect

Saturday, 17 November 2018

Sri Lanka over the last few weeks has experienced a twin crisis. One is political provoked by its Constitution, and the other economic engendered by its politics. However, this crisis is the combined effect of two previous presidencies, those of J.R.


The fish that swallowed the whale

Friday, 16 November 2018

This is an easy-peasy, elementary effort of an ordinary citizen to comprehend the mad scramble for power among the political class. It is undertaken in the belief that the crisis we face is an opportunity to reject the family kleptocracy of Mahinda R


Columnists More