(UTV | COLOMBO) – United National Party Leader Ranil Wickremesinghe urged the Government not to politicise the GSP plus trade concession from the European Union and to take immediate actions to protect the concession.
Our government took action to regain the GSP+ from the European Union to assist in developing the country’s economy in 2017. This facility provides Sri Lanka with permission to export goods to Europe without taxation, which led to a boom in the garment and fishing industries.
Speaking to media, Ranil Wickremesinghe stated that if this tax relief is lost,the rupee will depreciate further and Sri Lanka will have to pay around 300 Rupees per Dollar. He further noted that it would also lead to the loss of thousands of jobs.
“Do not add any more weight to the heavy economic burden that the people are carrying and I request from the government not to destroy this country,” Wickremesinghe added.
Wickremesinghe said that an issue has now arisen in the European Parliament regarding the GSP Plus tax concession.
Wickremesinghe noted that our country’s tourism industry is at risk at the time due to COVID-19 pandemic situation, while with the sinking of X-Press Pearl vessel, more issues have arisen over the fishing industry as well.
“The number of people going abroad for employment has decreased.Therefore, our foreign exchange has fallen. Sri Lanka borrowed $200 million from Bangladesh due to the economic crisis caused by the decline in our foreign exchange,” he further added. At present, only the tea and garment industries are able to earn foreign exchange for our country.