'Govt to review motor import tax in 2017'

Chairman Stassen Group and Aitkin Spence, Harry Jayewardene and Dilmah Tea Chairman and Founder Merrill J. Fernando strongly criticized the move by the government to import tea to the country subsequent to the Budget 2016 proposals.
Speaking at the Business Forum on budget 2016 organized by Sri Lanka Rupavahini Corporation at Waters Edge yesterday, the duo said that this move would have severe negative impacts for the local industry. "It would dilute the quality of the Sri Lankan brand name of tea which we have strived for years to create."
Minister Ravi Karunanayake said that there had not being an increase in the size of the tea industry and this move was to inspire the local industry. He also said that Sri Lanka also needs to innovate.
However both Jayewardene and Fernando disagreed and said that the decision on import of tea has to be re-looked.
Responding to a query by Chairman of the Sri Lanka Vehicle Importers' Association, Indika Sampath Merinchige the Minister said that they needed to balance the budget with fuel prices and this was the reason for them to increase the tax of electric vehicles. "We request the industry to bear with us for about one and half years in this regard."
Managing Director, CEO of Caltex Lubricants Lanka Limited said that there is an imbalance by default Sri Lankan Human Resources. "Sri Lanka is exporting house maids and importing Senior Managers, CEO's. This must change."
John Keells Group Deputy Chairman, Ajith Gunawardne said that tourism industry is well positioned to move from US$ 2 billion industry to a US$ 10 billion industry in five years.
He said that though some points may not directly involved in the budget, Sri Lanka must strive to get the right tourist to the country. "For this, standards should be maintained in service standards and also when building high rise hotels in coastal areas."
Dharma Dheerasinghe, Chairman Commercial Bank said that they saw two key issues in the macro economic background in which the budget was presented. "One is the fiscal imbalance that prevailed in economy and those issues relating to the fiscal sector that needs to be fixed. And also we have a growing balance of payment deficit and this too has to be addressed."
National Chamber of Commerce, Chairman, Tilak Godamanne said that most of the features were accepted by them.
"The proposal to set up a venture capital and give them a tax holiday for five years is welcome."
Minister of Finance, Ravi Karunanayake said that it is a very good idea to send suggestions to the Government mainly through Chambers without going behind politicians.

Source: Daily News