Tariff policy to be rolled out this year: Industries Ministry

The government will implement the long-awaited tariff policy this year, along with programmes aimed at supporting businesses, Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe said.

The policy is expected to introduce a simple, transparent, and predictable tariff framework to ease restrictions faced by exporters in accessing high-quality raw materials at competitive prices.

Among the planned initiatives, Abeysinghe highlighted the introduction of a minimum price for value-added services and inputs, measures to reduce production costs in the energy sector, lower transportation costs, and a data policy.

He made these remarks last week at an award ceremony organised by the Industrial Development Board to recognise outstanding entrepreneurs.

Abeysinghe said 2025 would be a turning point for the industrial sector, with the government offering maximum support to entrepreneurs and industrialists through Budget 2025.

The government has allocated Rs.13 billion directly to the Ministry of Industries and an additional Rs.14 billion through other ministries to boost production and exports.

(NF)