Sri Lanka PM Ranil Wicamasinghe
Sri Lanka PM Ranil Wicamasinghe
SRI LANKA
Sri Lanka’s prime minister Ranil Wickremesinghe in a statement to the Sri Lankan parliament on the state of the country’s economy, said that it is time to focus on the future and on the nation’s ability “to compete successfully in a dynamic global market place and carve out our niche among the prosperous nations of the world.” With a decrease in tea prices, the value of agricultural exports has declined over the past few years said Wickremesinghe.
He expressed concern that some tea estates are not being run as well as they should be. “Our export base has remained the same for more than 30 years and is dependent on a narrow export base of garments, tea, rubber, gemstones, and tourism. The economy cannot experience growth based on such limited exports.”
He said that the difficulties faced in the tea and rubber industry will be reviewed and the government will restructure the plantations sector to invite new capital and eliminate inefficiency.