Local News Update: Sri Lanka will see next year’s economic recovery as a series of cautious measures were taken after the presidential election, said President Gotabaya Rajapaksa. Speaking to the presidential secretariat’s media representative yesterday, he said that a series of tax concessions were introduced to the country in order to reduce the tax burden towards this revival. In addition, security and intelligence have been improved, where people can live without fear. Rajapaksa said new steps have been taken to create a healthy atmosphere for both local and foreign investors.
“We have once again restored investor confidence and we expect to see more investments.”He emphasized that the substantial tax concessions and reliefs offered would not be revoked after the forthcoming general elections or in the future. “They’re here to live,” the president also said he was somewhat frustrated that consumers were not passed on the tax concessions given to the corporate and private sector.
“The benefit must be passed on to consumers by private companies and the corporate sector in the near future.”Asked what his revival plans to review failing state entities such as the Ceylon Electricity Board and SriLankan Airlines, he said fresh-minded corporate sector professionals would be named to lead them.”We will also look at introducing a new culture of work for them and other government employees. “The successful beautification project of Colombo City was carried out using local inputs and architects, and we did not need any foreign assistance.
It shows that what is needed is a change of mindset and this would be achieved by the new corporate leaders who will lead them. “Sri Lanka has over 1.5 million public-sector employees and they should do more to their institutions and the people who come to use their services. He said job creation is one of his priorities and focus would be on the ICT field. There is also a huge global market for Sri Lankan’s’ CareGivers.’ “I also noted that there are graduates working in government institutions and preference should be given to’ soft’ unqualified people to be named to these positions without looking at their qualifications for education.
These young people are poor because they are uneducated, unqualified and have no access to land or credit to start their own business due to lack of collateral. “The president also said that many religious leaders, especially in the North East, have asked him to bring more factories into the area and also have more vocational training centers and these requests would be answered.