After a lapse of nearly 25 years Lanka Phosphate has finally received approvals to export Phosphate, said Minister of State for Primary Industries Chamara Sampath Dasanayake at the opening of the ‘Industry 2023’ at BMICH yesterday.
He said that there was a legal issue with the Lanka Phosphate Limited for 23 years and after he took the Ministry he talked with the Attorney General’s Department on several occasions and after eight months have now received approval for export.
“This approval was then forwarded to the Geological Survey and Mines Bureau and three days ago they gave the approval for export. Sri Lanka has a rich and globally famous phosphate mine in Eppawala and its deposits can be extracted for almost 100 more years. Since there is also a huge global demand for Sri Lanka Phosphate we have now decided to export and bring a huge amount of FOREX via exports.”
He said that Kahatagaha Graphite too has huge potential along with the National Gem and Jewellery Authority which both come under his purview and said that he is looking to explore more avenues to bring in FOREX through these institutions.
The Minister said that he has observers that though there are a lot of gem exports most of the money comes back to Sri Lanka through ‘Undiel’ (non banking channels) and this is a serious issue that would be investigated. He said sadly this even happened during the peak of the economic crisis. The total gem export revenue is around USD 150 million to 200 million and we have introduced several novel methods and hope to increase this to USD 500 million this year.”
One such method is the CUSDEC. Under this all exporters of gems, jewellery and diamonds should submit the Sri Lanka Customs CUSDEC (Customer declaration) with effect from January 1, 2023 and instructions were given to the authority when discussions were held on November 23,2022 between the Central Bank of Sri Lanka and the Sri Lanka Customs Department.
It was decided that the authority should provide similar facilities only for export of gems, jewellery and diamonds.
As such, all exporters are hereby informed to be prepared before time since all preparations should be done under the Asikuda system of the Sri Lanka customs.
He said that the industry ministry will make similar initiatives to increase exports.
Prime Minister inaugurates Industry 2023 Exhibition
The national industry exhibition ‘Industry 2023’ was opened by Prime Minister Dinesh Gunawardena and Minister of Plantation and industries Dr. Ramesh Pathirana, Minister of State for Small and Medium Enterprise Development Prasanna Ranaweera and Minister of State for Primary Industries Chamara Sampath Dasanayake at BMICH yesterday and will end on June 25. Several foreign ambassadors also participated.Here Prime Minister, Dinesh Gunawardena is seen in one of the stalls after the opening ceremony.
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