News

Trade Minister says export economy key to country’s economic wellbeing

Published

5 years ago

2020/10/22

By Saman Indrajith

Trade Minister Dr. Bandula Gunawardane told Parliament on Tuesday (20) that the strengthening of the export economy was vital for solid economic growth and to balance macroeconomic variables of the country

Presenting several orders under the Export Development Act for the approval of the House, Minister Dr Gunawardane said that the Ministerial Council on Export Development established to develop the export sector in the country had not met for 28 years. However, after 28 years the council had met under the chairmanship of President Gotabaya Rajapaksa.

“This ministerial council on export development is supposed to consist of all ministries that are directly linked to our export items such as the Ministry of Agriculture, minor exports and so on. This council is expected to evaluate our export sector, propose policies, draw an export development plan and then establish and monitor export development authority. Most unfortunately this council has not met for 28 years. The last time this council met was during the time Lalith Athulathmudali was the Minister of Trade in the country. For moving ahead, we first need some orders approved regarding the Export Development Act so that we can utilise the Export Development Board and the Export Development Fund.

“If we look at the history of Sri Lanka, we have been recognised as noble traders in the international market with rich export items. Sri Lanka was a centre for international trade. That is why we were colonised by several foreign nations. However, after colonisation we became a nation dependent on imports. Since Independence there have been several attempts to introduce import substitution policies. That is how industries such as Lanka Loha, Sri Lankan made steel, tyres, textiles developed in the country. During this time, we had no issues relating to our finances. Due to the introduction of the open economy by late President J.R. Jayewardene created a situation which is unhealthy for our local economy. Since then our expenditure on imports kept growing larger than our income from exports.”

Minister Gunawardena tabled a report prepared by the CINTEC, which is engaged in an experiment to manufacture a battery with locally extracted graphite. “We must be able to allocate a few billions of rupees to develop the export items such as the one proposed by the CINEC. At least 25 percent of the export development fund should be directed to encourage exporters and researchers.”

All News Advertisement

News

We aspire to build a nation where all citizens coexist in peace and resilience for the future generation -PM

Published

5 hours ago

2025/04/21

Priyan

Prime Minister Dr. Harini Amarasuriya stated that the government is ready to listen to the people and aspire to ensure a peaceful and united nation for future generations.

The Prime Minister made these remarks while addressing public gatherings on April 20 at the Manik Farm Community Development Centre in Settikulam and the Ukkulankulam Ground in the Vanni electoral district.

The current Parliament has the highest number of female representation in its history. Previously, women constituted less than 5% of Parliament out of the total number of 225 However, 52% of the country’s population are women.

Women play a significant role in sustaining the economy, maintaining family structures, and upholding society yet their representation in decision-making bodies has been limited. Therefore, we urge you to elect not only male representation to Parliament but also more female representatives from the Vanni district.

Vavuniya is currently developing into a thriving city. Therefore, essential services expected from provincial councils must be effectively delivered. Local government bodies should actively participate in the development of the rural sector.

We recognize that education holds significant value for the people of the North. You place great importance on education. However, the country’s education system has deteriorated and weakened. Specifically, the lack of necessary attention to the education sector in the North has made it more challenging compared to other regions. Moreover, I have learned of a more alarming issue that the diminishing value placed on education by young men and women. Clandestine Drug Distribution and alcohol are now readily visible in everywhere. There are no avenues for youth to find joy while avoiding these substances. The underdevelopment of fields such as science, arts, and drama has left them without means to find happiness. Therefore, significant interventions must be necessary.

If you elect a group that is free from corruption and fraud, we can allocate funds without hesitation, ensuring they reach the appropriate hands. These funds can then be directed towards the development of your village. That is why your choice is important.

The events were attended by Deputy Minister of Co-operative Development, Upali Samarasinghe, Vavuniya District MPs S. Thileepan and M. Jegatheeswaran, along with the local government candidates and residents.

[Prime Minister’s Media Division]

Latest News

Exposition of sacred tooth relic extended by an hour –

Published

6 hours ago

2025/04/21

Priyan

[file pic]

The Sri Dalada Maligawa has announced that due to the large number of devotees coming to Kandy to venerate the sacred tooth relic, the time of exposition of the sacred tooth relic has been extended by an hour.

Accordingly the public can pay homage from 11.30am upto 05.30pm from today [21]

News

Pope Francis has died at the age of 88, Vatican says

Published

6 hours ago

2025/04/21

Priyan

Pope Francis has died at the age of 88, the Vatican has announced.

His Eminence, Cardinal Farrell, announced with sorrow the death of Pope Francis, with these words: “Dearest brothers and sisters, with deep sorrow I must announce the death of our Holy Father Francis. At 7:35 this morning (local time), the Bishop of Rome, Francis, returned to the house of the Father. His entire life was dedicated to the service of the Lord and His Church.” “He taught us to live the values of the Gospel with fidelity, courage and universal love, especially in favour of the poorest and most marginalised.”

Farrell adds: “With immense gratitude for his example as a true disciple of the Lord Jesus, we commend the soul of Pope Francis to the infinite merciful love of the One and Triune God.”

Francis’s papacy heralded many firsts and while he never stopped introducing reforms to the Catholic Church, he remained popular among traditionalists.

He was the first Pope from the Americas or the southern hemisphere. Not since Syrian-born Gregory III died in 741 had there been a non-European Bishop of Rome.

He was also the first Jesuit to be elected to the throne of St Peter – Jesuits were historically looked on with suspicion by Rome.

Francis’s predecessor, Benedict XVI, was the first Pope to retire voluntarily in almost 600 years and for almost a decade the Vatican Gardens hosted two popes.

As Cardinal Bergoglio of Argentina, he was already in his seventies when he became Pope in 2013.

[BBC]