Lankan President confident economy can be re-built on a solid basis
Posted on May 7th, 2020

Courtesy NewsIn.Asia

Orders formulation of detailed plans for every sector including tourism.

Colombo, May 7 ( Sri Lankan President Gotabaya Rajapaksa is optimistic that the economy adversely affected by the COVID – 19 pandemic, could be re-built on a solid basis, a Presidential press statement said on Thursday.

The Presidential Task Force in charge of the Economic Revival and Poverty Eradication has been entrusted with the responsibility of formulating a new economic model to achieve this objective. The President directed the Task Force to prepare economic plans with specified targets for different areas that come under its purview and implement them.

The President expressed these views at a meeting with members of the newly-appointed Task Force held at the Presidential Secretariat on Wednesday, to discuss modalities relating to the resumption of civilian life and work from May 11th.

The apparel and tourism sectors which make a huge contribution to the national economy should be revitalized to suit the changing situation, the President said.

He was of the view that new opportunities are now open to attract tourists from countries where the COVID – 19 virus has been subdued. Medical tourism can be promoted by highlighting the capabilities of the Sri Lankan indigenous medical system which was used for treatment of the virus infected people. In order to encourage high-spending tourists, visas must be issued to them supplemented by an internationally recognized certificate.

Some tourists prefer to stay longer than usual especially during the winter. The President highlighted the possibility of strengthening the tourism sector by attracting such long term travelers. Members of the Task Force were told to pay attention to promoting domestic tourism so that the local hotel industry could be saved from collapse.

The President also pointed out the possibility of attracting more foreign investors to invest in the Port City and the Industrial Zone in Hambantota. The Ministry Secretaries were entrusted with the responsibility of identifying opportunities for investments instead of seeking foreign loans.

During the last few weeks a number of new innovations have been made in the country. Steps should be taken to introduce these products to the global market.

Head of the Task Force Basil Rajapaksa said that the newly instituted Task Force has the capability of fulfilling its mandate with a new vision in order to achieve objectives set out by the President. The Task Force will support new businesses and will extend the fullest cooperation to already existing large, medium and small scale enterprises, he stated.

Although the private sector offices have been advised to resume work at 10.00 am daily from May 11th, industrial and production activities can be adjusted in accordance with their requirements. Basil Rajapaksa warned that no loss of employment should take place both in the state and private sectors while the country is moving forward.

Recalling recent requests by Sri Lankan students studying in other countries for repatriation the President remarked that its was an indication that a large number of students are going overseas to pursue higher education. This has caused an immense outflow of foreign exchange. President Gotabaya Rajapaksa said that measures should be taken to expand investment opportunities in the field of tertiary education in the country so that outgoing foreign exchange could be saved while providing educational facilities to foreign students, in Sri Lanka.

A large amount of money is being spent to import medicines annually. Most of these medicines can be manufactured locally. The Task Force was requested to prepare necessary background material to develop pharmaceutical production in the country.

The production of vegetable and other seeds required by farmers domestically, was also discussed.

Secretary to the President P. B. Jayasundera, Secretary to the Prime Minister Gamini Senarath, several Ministry Secretaries and a number of leading businessmen joined the discussion.

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