The Government presented the 2014 budget in the face of the prevailing economic strategies based on the economic mechanism identical to the country.
Senior Minister and Deputy Finance Minister Dr. Sarath Amunugama said that the budget proposals have been presented to uplift local industries and create a competitive foreign market.
The Minister made these comments joining in a function held in Colombo for the release of the Asia-Pacific Regional Industries and Investment Report.
The Minister said that as a nation Sri Lanka has so far succeeded in achieving self sufficiency in many spheres. The Government constantly took initiatives to embolden local production. As such, taxes had not been imposed on any local product in the 2014 budget.
Action was taken to discourage the import of foreign goods which is a threat to local products. Taxes were imposed on foreign goods to protect the local products. The Minister added that the country had been able to achieve many economic benefits by working within an economy identical to the country.
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