Industrial sector proposals gathered for Sri Lanka’s 2025 Budget

A discussion was held yesterday (December 1) at the Ministry of Industry and Entrepreneurship Development to present proposals for the 2025 budget, with representatives from 20 local industrial sectors in Sri Lanka in attendance.

During the meeting, numerous proposals were submitted, focusing on expanding local industries, enhancing export opportunities, and initiating new ventures.

Representatives from industrial and commercial chambers, along with ministry officials, shared their views and suggestions.

The Minister of Industry and Entrepreneurship Development, Sunil Handunnetti, Deputy Minister Chathuranga Abeysinghe, Ministry Secretary Thilaka Jayasundara and several other officials participated in the discussion.

In a Facebook post, Deputy Minister Chathuranga Abeysinghe stated:

“The challenges faced by Sri Lankan industrialists cannot be easily summarized. However, none of the governance systems to date have attempted or shown interest in addressing these challenges meaningfully.

Sri Lanka has been governed by policies that destabilize industries and increase imports.

In 2024, unscientific tax policy changes, deliberate delays in implementing anti-dumping laws, taxing production inputs, lack of infrastructure and technology, withdrawal of tax concessions for research, absence of state diplomatic support for essential exports, inefficiencies in obtaining required certifications and approvals, lack of skilled labor, inefficiencies in transportation, unavailability of low-interest capital, and rising energy costs that reduce competitiveness are common issues faced by the industry.

All these issues require systematic solutions in the upcoming budget. The top priority is building trust between industrialists and the state administration. The next priority is ensuring efficient services from existing state institutions.

So, we are preparing for an era of revival. Over to you!”