A New Program is Essential to Propel the Plantation Industry Forward, Encompassing the Tea Sector: President Ranil Wickremesinghe

President Ranil Wickremesinghe emphasized the necessity for a novel program to drive forward the plantation industry in Sri Lanka, encompassing the tea sector. He stressed that this program should be accurately crafted, integrating contemporary digital techniques

These remarks were delivered during his address at the 129th

Annual General Conference of the Colombo Tea Traders Association (CTTA).

The President highlighted that the tea industry possesses substantial potential to significantly contribute to the country’s economy. He underscored the importance of identifying the challenges within the sector and embracing innovative solutions to facilitate its transformation. Continuing his statement, President Ranil Wickremesinghe further elaborated that the Government’s efforts have been focused on implementing programs aimed at rescuing the nation from economic distress and ensuring stability. However, it’s crucial to recognize that sustaining this economic stability for an extended period beyond a decade will be challenging if we continue to experience a trade imbalance in our economy.

In addressing this, President Wickremesinghe noted that the nation often finds itself compelled to secure foreign loans. He further highlighted that due to budget deficits, there emerges a necessity to print additional currency to cover these deficits.

The President emphasized that the nation stands at a critical juncture where a pivotal decision must be made – whether to revert to old systems or to embrace a more structured economic approach that propels the country forward into a new era. President Wickremesinghe asserted, “Remarkably, even amidst times of conflict, our nation’s economy demonstrated resilience. For instance, garment factories were established during wartime, showcasing our ability to navigate challenges.”