Use of local items will save forex

by L.S. Ananda WEDAARACHCHI

The use of locally manufactured items for development project will help boost local industries and save valuable foreign exchange on imports. Chairman State Engineering Cooperation Pro. Ashu Marasinghe said. He said apart from expanding the local raw material market, the local industries will generate job opportunities. In addition it will promote creativity and enhance living standards, he said.

The chairman said that the World Bank has set aside 15 per cent for locally manufactured goods Asian Development Bank 20 per cent.

The State Engineering Corporation (SEC) will give priority to local manufacturers and contractors. The SEC was setup in 1962. The Planetarium in Colombo, the Puttalam Cement factory, Narahenpita, Flats, Ceylon Flours Milling Corporation, Ceylon Steel Corporation and Paper Corporation were built by the State Engineering Corporation.