Government announces fresh support for gem and jewellery sector

The local gem and jewellery sector will receive some room to recover from the current challenges as the government announced fresh plans to provide concessions.
President Ranil Wickremesinghe however asserted that immediate changes to the tax policy are not feasible.
Meeting with industry stakeholders recently, Wickremesinghe said by offering solutions to the problems within the industry, relief will be extended to ensure their continued growth and prosperity. 

According to President’s Media Division, efforts will be made to devise an effective system to enhance the gem and jewellery industry. The President directed officials to develop a viable system aimed at bolstering the gem and jewellery industry. He has instructed them to collaborate with both the public and private sectors to draft a proposal addressing these issues within two weeks.
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 Wickremesinghe further emphasised the need to focus on boosting exports within the gem industry in Sri Lanka, along with enhancing value-added processes.

Meanwhile, the President highlighted plans to initiate mining operations in the Sabaragamuwa province and Nuwara Eliya district in the future which will allow stakeholders to venture into mining activities in these regions. Plans are also underway to conducted and explore the feasibility of establishing gem and mining enterprises in other regions of the country.