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| Sunday, 17 February 2002 |
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| News Business Features Editorial
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New mega city to revamp country's economy by Elmo Leonard A mega city between Katunayake and Colombo would soon take shape, as part of the new private sector oriented government's strategy to revamp Sri Lanka's economy, Minister of Commerce and Consumer Affairs, Ravi Karunanayake, said Friday last week. Sri Lanka would achieve an economic growth rate of 9 to 10 per cent by year 2003, leaving behind the minus growth rate, the economy was beset by, during the recent past. The new conservative government, would certainly deliver the goods, while achieving peace and development within the whole country, Minister Karunanayake said at the Lanka Star Awards night, of the Sri Lanka Institute of Packaging. The adage `export or perish' would again apply. Value addition of exports would be given top priority to revamp the economy, the Minister said. Being unethical for the Minister to reveal secrets of the forthcoming budget, he was able to give a few hints - GST would be reduced by 75 to 80 per cent; the consumer would have to pay, without burdening those between the line of commerce. There would be a weaning away from aid, to trade with the outside world, the Commerce Minister said. Five economic zones would be set up in the country in the near future, and foreigners were already ready to come in. Wherever possible, public ventures could be privatised, including the CWE, Minister Karunanayake said. Corruption would be wiped out. The peace process would succeed, the Minister said. |
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