Business
We become importers or manufacturers depending on govt policy: industrialists
From left: SLCGC Vice President Aravinda Perera, SLCGC Vice President Mahendra Jayasekera, SLGCC president Anura Warnakulasooriya and SLCGC Member S.H.B. Karunaratne
SL Customs ‘text book’ not in line with President’s vision on Production Economy, they say
by Sanath Nanayakkare
A leading local ceramics products manufacturer and member of Sri Lanka Ceramics and Glass Council told the media recently that their members choose to become manufacturers or importers depending on the policy of the government of the day.
“If we find it more profitable to import and sell due to policy decisions, we import. If we see the policy environment in Sri Lanka is conducive to manufacturing locally, we manufacture. We interchange our roles according to policy framework of the government”, he said.
Member of Sri Lanka Ceramics and Glass Council S.H. B. Karunaratne whose company’s product range is exported to about 47 countries made these remarks while speaking at a press conference organised by the Council to voice a ‘major weakness’ in Sri Lanka Customs’ Valuation Book which ‘unfairly’ favours importers of ceramic bathware, glass ware and allied products making things hard for local manufacturers.
“We do believe in free trade which is a two-way street and we can successfully face competition offered by foreign products. But the current valuation for invoicing by Sri Lanka Customs is so skewed and heavily favours importers and doesn’t create a level playing for competent local manufacturers who have invested heavily in the industry. This is not fair and it needs to be rectified,” he said.
“President Gotabaya Rajapaksa’s national policy framework of Vistas of Prosperity and Splendour has created a conducive environment for local production, therefore, we are encouraged to remain as manufacturers”.
“Some social media posts claim that only Rocell makes bathroom sets in Sri Lanka and they produce their goods for individuals of upper-income class and big projects. The truth is not only Rocell but Auto Bathware, RSL Ceramics, Hega, Embilipitiya Ceramics also make complete bathroom sets on a bigger scale and several other companies on a smaller scale. That’s why there was no scarcity of products despite the ban on imports.. Our manufacturers are not producing 100% of the local market requirement. But because of the government’s policy, we have planned to invest Rs.2-3 billion in the near term. With these investments our 60% local production would increase to100% and we will be self-sufficient in ceramic products in two years. And we have our own transparent pricing system to make sure local consumers have access to local products of good quality at affordable prices according to their choice”.
“The main issue that discourages potential manufacturers and existing national manufacturers is that the Customs valuation book value for imported items is at a low and unrealistic rate. To import a complete set of ceramic bathware which weighs 65kgs and includes a commode, tank, basin, pedestal, seat cover and water fitting, the book value for invoicing stands at US$35.00 or Rs.6,350. This is an unrealistic amount as a complete set of ceramic bathware cannot be manufactured at such a low cost, because to purchase the seat cover and water fitting alone it costs Rs. 3,500”.
Suggesting a solution to the issue he said,” This issue can be corrected by amending the Custom’s ‘text book’ value to US$100. Once this is amended local manufacturers will be able to compete with imports and it will also prevent cheap inferior quality items being dumped in our country. And this will also help to stop the huge outflow of foreign exchange.
“Once this book value is amended to $100, the importers and local manufactures will have to compete on a level playing field, and this will in turn benefit the consumer as they can get a competitive price”.
When asked if their members have voiced their concern with the authorities on the ‘unfair’ valuation method by Sri Lanka Customs, Karunaratne said that they would be meeting Prime Minister Mahinda Rajapaksa to discuss the matter at an upcoming meeting.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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