Select private sector view on Budget 2013

Friday, 9 November 2012 03:06 - - {{hitsCtrl.values.hits}}

Chamber of Construction Industry President Architect Surath Wickramasinghe

I believe the major concession the construction industry achieved in the Budget was on foreign-funded projects, ‘the agreements to include the participation of local consultants and contractors’. Besides this, the rest of the construction-related Budget proposals were similar to the Budget proposals last year.

We regret that two of our important proposals with long-term benefits to the construction industry and Sri Lanka were not considered by the Ministry of Finance.

Proposal 1: Government to establish an Infrastructure Development Fund to promote the capacity building and sustainability of the domestic construction industry to be competitive with the foreign counterparts.

Proposal 2: Provide seed capital to formulate urban regeneration project templates on mega projects to invite PPP proposals from investors/developers.

We will make a detailed statement after a proper study of the 2013 Budget.

Rohantha Athukorala – Corporate and Business Personality

The Budget proposal to set up a National Wage Policy by a new Wage Commission is timely, especially in the tea industry. The current acreage collective agreement modality does not take into account in practice, the market dynamics or the inflationary data, which drives down the competitiveness of the tea industry. I hope justice can be done to this Budget proposal in the coming year, so that the supply side challenge on this key issue of the escalating wage rate can be addressed in the tea industry. This will indirectly support the global advertising campaign that is to be launched in the near future for the Ceylon Tea brand.

Immediate Past President National Chamber of Exporters/sitting on the EDB Agri Advisory Committee and National Chamber of Commerce Agri and Exports Council Sarath De Silva

It is a highly-consulted, highly-focused Budget on three particular aspects. They are food safety, import substitution, and export expansion with weight on agri and food crops. People must study the Budget carefully and read between the lines to get the maximum benefit of it.

Priority is given to the rural economy with rises in paddy prices and increased priority for organic paddy. High dependence on plantation was not emphasised and more concentration has been given on small holders with subsidiaries in tea, rubber, and coconut replanting, and new planting. Rubber and coconut plantation has been given in new areas for cultivation as well. On to animal husbandry, there is a high emphasis on duty on imported milk powder prices, to focus attention on local products, among other beneficial proposals. This is quite a Budget to work with and we are looking forward to it

Spice Council Chairman Sarada De Silva

I did not have time to go through the entire Budget, however I heard that there is a triple deduction of expenditure in research not only for the Government but for the private sector as well in the Budget; and a continuation of the fertiliser subsidy, which will be a big boost for cinnamon and spices, and has encouraged organic fertiliser, which will support the industry as well.

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