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TEA praises 2016 National Budget

23 November 2015 06:30 pm - 0     - {{hitsCtrl.values.hits}}

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The Tea Exporters’ Association (TEA), the apex private sector body for the tea export community in the country, yesterday hailed the maiden budget presented by the national unity government.

“2016 Budget is one of the most pragmatic, development-oriented Budgets presented in the recent past. 

The association endorses the government policies outlined in the Budget proposal as timely to improve economic strength of the country through enhancing local competitiveness, promotion of investment and international trade,” the TEA said in a statement. 

The TEA also praised the government for providing a number of relief measures to the masses by reducing prices of essential items. 

Improving the tax administration aiming at increasing the government revenue while granting concessions, was also hailed by the association.

“The TEA is happy that the Budget proposals address a number of concerns of the export community. The proposal to appoint a high-level body to take policy decisions and clear bottlenecks for successful implementation of export strategies is an important step in the right direction for promotion of external trade. 

The proposed Export – Import bank (EXIM bank) would certainly fulfil a long-felt need in export financing requirements of the country. The association also welcomes the restructuring of the Export Development Board (EDB), Sri Lanka Export Credit Insurance Corporation (SLECIC) and Commercial sections of Sri Lanka missions abroad to support the export drive of the country,” the TEA said. 

The TEA also welcomed the government initiative to deviate from previous economic policies and align with fundamentals of the world economy.
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