Business News

Higher taxes at present seen as detrimental to economic and social stability – The Island


The Common Supervisor and the Director of ISIN Lanka (Pvt) Ltd, Jatinder Biala retained his place as Chairman of the Free Commerce Zone Producers Affiliation (FTZMA) as members voted in favour of extending the time period of the present workplace for an additional 12 months on the forty first Annual Common Assembly held on the Hilton Colombo.

Accordingly, EGM – Tropical Findings (Pvt) Ltd, Dhammika Fernando can also be unanimously re-elected because the secretary of the Affiliation whereas Vice Chairman Hemantha Perera, Managing Director of Isabella (Pvt) Ltd additionally will proceed to serve for an additional time period.

M.H.Z.M.Marzook, Managing Director of Filotex Lanka (Pvt) Ltd, will stay because the Treasurer, are the Government Committee members.

The former State Minister of Aviation and Improvement of Export Zones, D.V. Chanaka was the chief visitor on the AGM whereas ILO Nation Director Ms. Simrin Singh and Chairman of Board of Funding of Sri Lanka Raja Edirisuriya had been the friends of honour.

FTZMA is the main Affiliation representing the overseas direct traders within the varied export processing zones in Sri Lanka. Because it commenced its operation from Katunayake Free Commerce Zone over 40 years in the past, the Affiliation has been representing the overseas direct investments, increasing their presence to all Free Commerce Zones in Sri Lanka.

In his assertion after the re-election, Chairman Biala stated: “FTZMA’s role in Sri Lanka’s export industry is well recognized for its pro-active and forward-looking actions during the difficult situation the country is in today. Our membership spans some of the most prominent and major industrial groups in Sri Lanka.”

“Over the last four decades, we have addressed the issues relating to the various aspects of business faced by the member enterprises by liaising with BOI and other state agencies such as Customs, Central Bank and Ports Authority etc. As a leading association we take utmost care of our employees whilst looking after the interests of the investors, at the same time we ensure that the operations of the enterprises are carried out without any hindrance with the close support of the BOI During pandemic period our association has taken various steps to help the health and law enforcement authorities to overcome various challenges whilst sustaining the interests of our investors and our employees. During this period we have contributed to promote foreign direct investments,” Biala added.

“FTZMA strongly believe that our country will be able recover from the current difficult economic situation faced by our members and the present Government would formulate policies and take action in the right direction to foster the socio-economic progress of Sri Lanka and will bring back confidence of all investors,” the Chairman stated.

The Affiliation ensures that steady and easy operation of the actions and most significantly maintain the business by satisfying the Investor. Points introduced up by members are being handled effectively by making a conducive atmosphere with officers of the Board of Funding of Sri Lanka and all stake holders.

“During the pandemic in last year, an Intermediate Care Centre (ICC) established by Association in collaboration with the Board of Investment of Sri Lanka and our member Crystal Martin Ceylon Pvt Ltd (CMPL) was very successful and helped immensely for the wellbeing of employees & staff of all BOI companies. This unmatched act was appreciated by all stakeholders. The Association is once again thankful to CMPL, BOI, NYSC, their member enterprises, Health Ministry, Doctors, Medical staff and all those who have contributed for their perpetual support to make this a reality We are also happy to note that the Website launched by us last year for the benefit of our members is very successful and very much useful to most of our members and outsiders. We will continuously update it with all activities and whatever data that could be updated for the benefit of the Association and its members,” Chairman Biala added.



Supply hyperlink

Leave a Reply

Your email address will not be published.

close