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TEA wants more assistance to bring in forex 

11 Nov 2021

  • Discloses wish list from upcoming Budget 
BY Ruwani Fonseka  Tea Exporters’ Association of Sri Lanka (TEA) Chairman Sanjaya Herath recently expressed the wishes for the tea export industry in the upcoming Budget 2022, requesting the Government for assistance so that more foreign exchange can be brought into the country.  He made this statement during a media briefing held on Tuesday (9).  “We want some sort of allocation from the Government in three main areas. We want the Government to use the facilities which are available at SLINTECH (Sri Lanka Institute of Nanotechnology) or ITI (Industrial Technology Institute) and upgrade the facility in order to do the required testing for the guarantee of the quality of the products. Maybe a budget allocation of about Rs. 400 million is expected of this,” said Herath.  He went on to say that the main reason for this request was to eradicate the delays in getting the samples approved and also save much-needed foreign exchange.  “The Government is looking at an export-driven country, and because of that we wanted the Government to strengthen the Sri Lanka Export Credit Insurance Corporation in order to give exporters a lending hand of attractive premiums and also to guarantee payment so that we can go into new markets and increase the revenue,” Herath stated.  The third point Herath mentioned was to try and dedicate the shuttle export processing zone and bring down the cost of production and increase the efficiency of the processors.


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