GSP plus is a temporary economic benefit; Statement from Mahinda

Sunday, 11 June 2017 - 19:11

Former president Mahinda Rajapaksa stated that Sri Lanka will only receive a temporary benefit through the GSP Plus concession.

Issuing a communiqué, the former president stated that the government is in the process of establishing an opinion among the general public that the country’s future can be built on GSP Plus concession.

The former president in his communiqué notes that a full import tax will be imposed on Sri Lankan goods exported to the European Union in the near future as the country has almost reached the cut-off per capita income of USD 4,035.

The former president therefore notes that it would have been easier to get accustomed to the transition if the country had opted to remain receiving concessions under the GSP scheme.

As the per capita income reaches USD 4,035, Sri Lankans will have to pay the full tax as opposed to being tax free.

The former president thus notes that the government should face reality and refrain from making promises to people that cannot be fulfilled.

The communiqué further notes that the government should have a programme to face a future in which there will be no tax concessions from the European Union.

The former president also notes that the government should focus its attention on overcoming challenges through novel products, new markets, providing loans at low interest rates to renovate factories, providing tax concessions for businesses to expand and developing the skills of labourers.


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