This Budget has allocated sufficient funding to increase the Export revenue which is the live wire of our economy and to see that its benefits percolate to the masses in the provinces said Minister of Export Development & International Trade Hon. G.L .Peiris. The Minister made these commends today (11th) at a Media Conference held at the Export Development Board to brief the media on special concessions and funding provided by the Budget 2009 for development of Exports.

He went on to say that a sum of Rs. 500 million has been allocated to set up Agro based export processing zones and to provide concessions to exporters to be competitive in the volatile International Market which is facing the effects of the world economic crisis. Rs.1000 million is allocated to find new markets for our products and to develop existing markets. It is also proposed to bring down the fuel surcharge levied by the Ceylon Electricity Board to 15% he further said.

Among other concessions are the reduction of the price of Furnace oil to Rs. 55/= per liter and to suspend the repayment of loan installments obtained for Industrial purposes by six months.

The Minister further said that support for the Production of Tea for export, a preparation of national Tax policy and setting up of a powerful structure for industrial development are also included in the proposals.