STAFF CORRESPONDENT
COLOMBO : The 76th National Annual Budget was presented in Parliament Friday by the Minister of Finance. In reading the Budget speech, it was stated that the Government is striving to build an export oriented economy. The Minister mentioned that there are number of fields identified to enhance production and revealed some of key sectors as
• Organic fertilizer production industries
• Pharmaceutical production
• Production of raw material for textile and apparel industry
• Rubber industrial products
• Export based agro-processing
• Livestock
• Agricultural equipment and machinery
• Fisheries and aquaculture development
• Production of chemical materials
• Electric and electronic appliances and IT products
• Production of sports equipment
• Steel and heavy metal industry
Minister Rajapaksa stated that the Government will create an integrated mechanism between the public and private sectors and assign annual targets for each export sector and intervene regularly to solve issues faced by exporters in meeting such targets.
The Minister invited the private sector to invest in these sectors and that the Government will provide basic infrastructure for these investors. Accordingly, Rs 5 billion would be allocated in establishing new investment zones.
It was reveled in the Budget reading; the following areas are to be developed as proposed investment zones for new products for each identified production sector.
• Organic fertilizer production – all agricultural districts
• Pharmaceutical production – Oyamaduwa, Millaniya and Arugambokka
• Production of raw materials for textile and apparel industry – Eravur, Monaragala, Puttalam and Kilinochchi
• Export based agro-processing zones – Mattala, Elpitiya, Hambantota and Jaffna
• Livestock production zones – Nawalapitiya, Wariyapola and Polonnaruwa
• Fisheries and aquaculture development zones through private investment – Puttalam, Mannar, Hambantota, Jaffna, Kokkadichole
• Production of chemicals – Paranthan, Pulmudei and Eppawala
• Investment zones for the production of electric and electronic appliances and IT based products – Henegama, Sooriyawewa, Kundasale and Homagama
• Manufacturing sports equipment – Hambantota and Sooriyawewa
• Steel and heavy metal industry – Mirijjawila
