|
|
 |
 |
| Sunday, 26 October 2003 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
Chambers put forward proposals for progressive budget The main aim of the budget proposals presented by the National Chamber of Exporters (NCE) to the Government are increasing revenue, reducing expenditure, generating employment and increasing growth for the benefit of Sri Lankans, an NCE spokesman said. Broadening the tax net to cover politicians and public servants, offering special recognition to taxpayers and introducing a road tax are some of the proposals made by the NCE to increase revenue while dissolving provincial councils, reducing the number of ministries and closing down or merging unproductive government organisations are the measures suggested to reduce government expenditure. As a measure of generating employment, the NCE proposes the introduction of a crash programme for upgrading the skills of young people using private organisations. The NCE has suggested the creation of a development fund by using the money collected by increasing revenue and reducing expenditure to increase growth. It further proposes to harness the private sector and civil society to directly participate and develop infrastructure in different areas and also to be responsible for maintenance. This would eliminate bureaucracy, delays and make the private sector more socially responsible and complacent. The proposals further suggest the reduction of disparity between BOI and non-BOI exporting companies and further reducing the Income Tax on export profits to give some relief on account of the appreciation of the rupee. Ceylon National Chamber of Industries (CNCI) Chairman Ranjith Hettiarachchy, presenting their budget proposals to the Government, has said that unless priority is given to solving the national issues and formulating long range national plans which will not be altered with the change of governments, the proposals of the private sector will be useless. The CNCI has expressed concern over the slow pace of infrastructure development which hampers all sectors, while solving problems in the health sector has been listed as a priority. To make the agriculture sector more performance-oriented, the CNCI has suggested to make the crop insurance scheme more effective, stop the uprooting of productive rubber and coconut cultivations and ensure a guaranteed price for the harvest. In its proposals, the CNCI has said that the country's focus is gradually shifting from promotion of industrial growth to Free trade agreements which forces the local industries to competing with foreign industrial goods. "If the country is competing on equal terms, it is fair, but since we are yet to get our act together, we have to be careful," warned the CNCI. It also proposed postponing the imposition of the single band tariff structure. The Chamber has also said that Sri Lanka should not sign FTAs with countries which compete with us on agriculture or industrial products. The other proposals made were focused on the tourism industry, holiday calendar, aid package approved at the Tokyo Donor Conference, bank charges and interest as well as the welfare of senior citizens. |
|
News | Business | Features
| Editorial | Security Produced by Lake House |
