Proposed pensions, a boon for garment employees
Investment Promotion Minister Lakshman Yapa Abeywardena said that the
proposed pension scheme for garment sector employees will be a boon to
improve the industry and their lives. Budget 2015 includes incentives to
be given to foreign and local investors. Increasing the EPF to 22
percent will ensure a good life for garment sector employees.
President Mahinda Rajapaksa in his capacity of Finance and Planning
Minister presented a development-oriented budget in Parliament. All
sectors will benefit from the Budget. The Government has given top
priority to the investment sector.
The Government also plans to launch various investment projects in
the North, Minister Abeywardena said.
The private sector has already begun to move towards the North. The
Board of Investment (BOI) has approved 23 projects with an investment of
Rs. 68,268 million. The BOI has approved nine hotel projects consisting
of 328 rooms. The investment will be Rs. 2,217 million, he said.
“The Government has provided more development to the North with the
dawn of peace. The Government has also planned small, middle and large
scale investment projects in the North next year. When the projects are
completed a large number of people in the North will receive direct and
indirect employment. The expatriate community from the North is also
keen to invest in their motherland”, the Minister said.
The Fisheries industry has also started to bloom in the region. The
number of fishing boats has increased to 11,225. Fish production also
increased several-fold, he said.
The Vavuniya to Jaffna 132 KV transmission and two grid substations (Kilinochchi
and Chunnakam) were completed at a cost of Rs. 6,759 million. The
Government has also improved the people’s health standards and provided
drinking water and sanitation facilities, the Minister said.