Treasury Secretary meets business community
Secretary to the Treasury Dr. P.B. Jayasundera said that our country
has achieved eight percent growth last year for the first time in 40
years and that that growth was not by accident. It was by a deliberate
set of actions.
He was addressing the business community at the SME Sri Lanka Forum
held recently at the Cinnamon Lakeside Hotel.
From left, Commissioner Inland Revenue
Mallika Samarasekera, Secretary to the Treasury Dr. P.B.
Jayasundera, President, National Chamber of Commerce Asoka
Hettigoda and Director General Customs Sudharma Karunaratne.
The forum was organised by the National Chamber of Commerce of Sri
Lanka (NCCSL) and the Treasury.
Dr Jayasundera told the business community that the government was
making every effort to develop the SME sector as a significant
contributor to the country's GDP.
The end of terrorism brought the country to a healthy situation which
none expected. Government expenditure has come down tremendously. The
private sector has benefited and their security-related expenses have
There has not been a power crisis during the last five years and
there will not be in the next 10 years because the Government has
launched massive infrastructure development initiatives - in power
generation, port development, irrigation, road development, water
supply, telecommunications, schools and hospitals and environment.
Safeguards have been brought into our economic policies through the
new policy regime that the President introduced through the Mahinda
Although there was resistance from our society, international
community and financial agencies, our policies have brought very good
results. Due to the effective policies the government has taken, the
effect of the world financial crisis on our economy was minimised.
Cesses to support local entrepreneurs and incentives have been given
at the request of the private sector.
The President gives leadership to a Government that takes decisions
at the right time - sensible and meaningful decisions, regardless of
practices other countries persue. In the next five years we expect the
country to achieve $ 4,000 per capita income and to become a middle
The Government made far-reaching changes to the tax system. "As a
result everybody here will benefit.
Many of you are enjoying either the relief of PAYE, the relief of
corporate tax reductions, the reduction of NBTs, removal of certain
taxes, or consolidation between provincial and national taxes.
These are some of the far reaching changes the Government has made"
Dr. Jayasundera said.
President, NCCSL Asoka Hettigoda said that the Chamber's aim in
organising the forum was to develop the SME sector and upgrade the rural