Business community told . . . :
Lobby for GSP+ facility
The business community should take the initiative to lobby for the
GSP+ facility as its withdrawal would affect potential industrialists
planning to set up garment factories in the North and the East, said
Vice President of the SAARC Chamber of Commerce and immediate past
President of the Federation of Chamber of Commerce Sri Lanka Nawaz
“It is unfair to withdraw the facility at this juncture when we have
overcome a three-decade war. We are rebuilding and developing the war
ravaged Northern and the Eastern provinces and we looking forward for
This will send wrong signals to potential investors,” he said.
The action by the Western world would discourage investors and
industrialists. This will also cripple our economy.
The GSP+ facility is year marked and it is a boost for the private
sector. It will be a cushion for exporters too, he said.
The recent IMF stand-by loan facility was an indication of the
credibility of the Government.
If the GPS+ facility is withdrawn it will have a reverse trend and
this would affect employment generation and have a negative effect on
the garment sector. This would be a calamity, he said.
The private sector should go forward and lobby for the GSP+ facility
as they would otherwise feel the pinch immediately. The country needs to
continue its development process. For this we need to protect the
garment sector, he said.
The SAARC business conclave will be held in Sri Lanka from November
22-23. It was due to be held in Pakistan.
However, as a mark of friendship and improved security situation
Pakistan was keen that Sri Lanka host the event providing us the
opportunity to attract investors for the country’s development. Last
year’s conclave was held in India.