OPA meets with policymakers, makes 17 proposals for sectoral development of economy

by Steve A. Morrell

The Organisation of Professional Associations of Sri Lanka (OPA) has held discussions with the authorities of the government and have made proposals to further develop Tourism, Foreign Employment, Shipping, the Apparel Sector, Export Incentives, the Spice Industry and several other industries of the SME sector on a par with India and China.

Taking into account Sri Lanka’s geographical position in the Indian ocean and its multifaceted areas attracting international interest, the OPA has suggested continuous review and recommended credence for cogent action within a given time frame.

The press conference convened by the OPA last week was to project interest of areas for discussion not merely to highlight action, but to incentivise action to improve the economic position of the government to eventually ensure economic progress,

Dulith Perera President of OPA said that at a meeting in December 2020 of the executive council of the OPA, the Committee for the Development and Sustenance of foreign Exchange in Sri Lanka’ was formed. Since then the Committee has subjected to deliberations and generated proposals categorized as short term and Medium term options.

Short term options included, credit lines extended to long years with countries from major level of imports, development of the apparel export sector. Utilising the ‘New Normal’ and the developmens in the apparel industry in Bangladesh as index for further growth.

The OPA’s further deliberations included, seeking enhanced employment quotas from countries such as Korea, Japan, Middle East, Israel etc., to improve foreign remittances. Also negotiate an employment quota from China.

Creation of an authority to develop the spice industry, in the context that Sri Lanka spices are the best in the world and following the model of the tea industry for further development.

Developing the Colombo Port for international container shipping to include Colombo as part of the major shipping lanes and address the lack of containers needed for exports.

Encouraging foreign investment for a minimum of 100,000 USD, or an equalised portion of more than 50 percent of the total cost. The Banking institutions to enter into tripartite agreements with developers and investors.

Special concessions to the SME sector, to include interest free advances and credit guarantees to the apparel sector in particular to encourage this sector, which now contributes about 65 percent to the economy of the country. Support to this sector is recognized as crucial to progress of the economy.

Gems and jewellery is included in the OPA proposals.

Additionally Economic development through export of high tech products, A new dimension for tourism, that could include medical tourism, pilgrim tourism and the outstanding features of Sri Lanka’s topography. Expanse of beaches with aqua sports and abundance of fauna and flora including game parks,

Development of universities to attract influx of foreign students from countries like the Maldives, Pakistan, Bhutan, to name few, countries who could take advantage of educational possibilities that could cater to a student population from such countries.

The OPA’s resurgence programme also included resuscitating and re-structuring industries that needed assistance for progress with assistance from the banking sector.

Past President Ruwan Gallage elaborated on details that were conveyed to the government, for effective action both in the short term and long term.

Attorney at law, Ruchira Gunasekera, Gen Sec. Eng, Upali Jayawardena, President Dulith Perera, Past president Ruwan Gallage , Treasurer, Bandula Gamarachchi, and Shantha Senarath were at the head table at the press conference.