Plans made to launch new mining projects says President Wickremesinghe

President Ranil Wickremesinghe has unveiled plans to provide concessions to those who engage in the gem and jewellery sector.

This initiative comes in response to the challenges faced by the industry, with the President emphasizing the importance of addressing these issues to support those involved in the field.

By offering solutions to the problems within the industry, relief will be extended to its stakeholders, ensuring their continued growth and prosperity.

The President clarified that immediate changes to the tax policy are not feasible, however, efforts will be made to devise an effective system to enhance the gem and jewellery industry.

The President also directed officials to develop a viable system aimed at bolstering the gem and jewellery industry.

He instructed them to collaborate with both the public and private sectors to draft a proposal addressing these issues within two weeks.

President Ranil Wickremesinghe made these remarks during a discussion held on Friday (Mar 15) at the Presidential Secretariat with stakeholders from the gems and jewellery industry.

Extensive discussions were held regarding the challenges arising from the government’s new tax policies, which have had repercussions on the gem and jewellery industry, along with other pertinent issues concerning the sector.

President Ranil Wickremesinghe further emphasized the need to focus on boosting exports within the gem industry in Sri Lanka, along with enhancing value-added processes.

Additionally, the President highlighted plans to initiate mining operations in the Sabaragamuwa province and Nuwara Eliya district in the future. Consequently, Sri Lankan gem businessmen will have ample opportunities to venture into mining activities in these regions.

The President also announced that a survey will be conducted to explore the feasibility of establishing gem and mining enterprises in other regions of Sri Lanka.