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| Sunday, 31 October 2004 |
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Politics |  |
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Shot in the arm for SMEs by Chanuka Mannapperuma Finance Minister Dr. Sarath Amunugama in a bid to boost the Small and Medium Enterprises(SMEs) assured that he would take measures to revitalise its activities since it played a significant role towards the economic development of the country. He was addressing a Business Forum organised by the Federation of Associations of Small and Medium Enterprises of Sri Lanka (FASME) in association with the National Chamber of Commerce of Sri Lanka(NCCSL) at the BMICH on last Friday. The minister who was the chief guest said that the SME could play a vital part in increasing its productivity, investments, generating more employment opportunities and enhancing its development. Dr. Amunugama said that the Western Province contributed to 48 per cent of its productivity."Whereas the output of others were much less." The economic development of the country depended to a great extent in the productivity of SMEs. Therefore, the government had taken several vital steps to promote local industries and give them further assistance, he said. The government had signed a MoU with India to export 4000 local products without tax. But, the quality of the finished products should be upto required standards to satisfy the export market. The best economic strategy is to harness the export market, he added. The government had earmarked Rs. 600,000 to each 'grama niladari sector'. Which would be utilised to start new projects including a public utility one within next year,he added. FASMESL Secretary Janaki Amarasinghe explaining their problems said that high export duty on raw materials, high cost of raw materials as well as importation of several items at low cost had affected their enterprises during the production process. "Besides, we have to spend a high cost for transformers." she added. Deputy Minister Sunil Hadunnethi also spoke. The FASME represents Small and Medium Enterprises (SMEs) spread throughout the country and it comprised 15 district associations-Anuradhapura, Colombo, Gampaha, Galle, Hambantota, Kalutara, Kandy, Kegalle, Kurunegala, Matale, Matara, Nuwara Eliya, Polonnaruwa, Puttalam and Ratnapura. The federation is affiliated to the National Chamber of Commerce Sri Lanka (NCCSL). |
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