Small and medium scale jewellery designers and manufacturers and their associations are being provided with silver metal at concessionary prices by the National Gem and Jewellery Authority.
At the launch of the silver metal concessionary price scheme |
Launching this scheme, (NGJA) Chairman /CEO Hasitha Tillekeratne said that the government had given a number of special concessions to the gem industry. These are the removal of 15 % VAT and the 1.5 % Port and Airport Development Levy on the import of gems and precious metal, the 18% percent VAT on foreign currency earned by the sale of jewellery in Sri Lanka, reducing VAT on the sale of locally manufactured jewellery from 20% to 5% and providing low-interest loans to jewellery manufacturers, according to a NGJA press release.
He said the gem industry export earnings rose to Rs 57.7 billion in 2008 and added that they hoped to donate the building owned by the Authority to the Gold Manufacturers Association ‘Surasa’ in Belideniya, Matara so that they can establish a manufacturing centre and a sales outlet and directly sell their products to foreign tourists.
At the event launch in Colombo, a discussion was also held to consider the problems affecting the industry. D.M.B. Piyasiri, member of the National Crafts Council (Gampaha Branch) appealed to the NGJA to protect jewellery manufacturers from go-betweens and ensure that the deserving persons get the dividends meant for manufacturers. Vice President (Jewellery Segment) of the Sri Lanka Gem and Jewellery Association and CEO of Nithyakalyani Jewellers, Wellawatte, A.P. Jeyarajah related his experience to small and medium scale designers.
Nithyakalyani Jewellers is among Sri Lanka’s leading jewellery exporters. Mr. Jeyarajah told the designers that they should take an interest in making master models each of which would earn Rs.650 while a silver ring can be sold for Rs.150 only. |
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