President Chairs Discussion on 2027 Budget Proposals for the Ministry of Industry and Entrepreneurship Development

COLOMBO (News 1st): A pre-Budget discussion to review the progress of projects implemented under the 2026 Budget allocations for the Ministry of Industry and Entrepreneurship Development and to discuss proposals for the 2027 Budget was held under the patronage of President Anura Kumara Dissanayake at the Presidential Secretariat last (13) afternoon.The progress of projects implemented by each division of the Ministry of Industry and Entrepreneurship Development and the institutions under its purview using the 2026 Budget allocations, as well as proposals for the 2027 Budget, were reviewed separately during the discussion.According to the President's Media Division, the President also focused on the current status of the programme to establish industrial zones in areas including Dambulla, Ingiriya, Valachchenai, Millaniya and Katunayake. Discussions centred on issues that have arisen in allocating land and developing infrastructure, including electricity, water and roads, as well as the urgent measures required to resolve these issues.President Dissanayake instructed officials to make every effort to complete all projects already initiated under the Ministry of Industry and Entrepreneurship Development within the stipulated timeframes. The current situation regarding the development of state enterprises was also addressed, with discussions held on the issues surrounding the sugar and salt industries and potential alternative proposals for them.He also highlighted the need to clearly identify the Government's role and limitations in relation to the industrial sector.Attention was also drawn to the current situation regarding the development of state-owned enterprises, while issues affecting the sugar and salt industries and alternative proposals to address them were also discussed.The current status of the process to consolidate institutions under the Ministry of Industry and Entrepreneurship Development was also reviewed. The President pointed out that large institutions had been established at different times to meet various needs, ultimately creating a situation in which such institutions had to be maintained using taxpayers' money.He stressed that the consolidation of these institutions should not only improve their efficiency but should also result in a relative reduction in operational expenditure compared with the costs incurred prior to consolidation.Officials also briefed the President on the proposal to establish the Entrepreneurship and Industry Transformation Authority (EITA) and the programme proposed under the Authority.