Press briefing of Cabinet Decision taken on 2021-07-05

Granting tax exemptions as per the provisions of the Strategic Development Projects (SDP) Act, No.14 of 2008, for the projects to be set up in the Dedicated Textile Manufacturing Zone at Punnaikudah, Eravur Pattu, Batticaloa

- Approval of the Cabinet was granted at its meeting held on 2020‑10‑26 to set up a Dedicated Textile Manufacturing Zone at Punnaikudah, Eravur Pattu, Batticaloa and to treat it as a strategic development project as proposed by the Minister of Industries. Accordingly, the tax and other exemptions to be granted for the projects to be set up in the proposed zone, under section 3 (2) of the said Act has been published in the Extraordinary Gazette Notification dated 2021‑04‑20. As such, the proposal made by the Hon. Prime Minister in his capacity as the Minister of Finance to take action as follows, was approved by the Cabinet:

* to identify and recognize the proposed Textile Manufacturing Zone as a Strategic Development Project under section 3 (3) of the Strategic Development Projects Act.

* to adopt the relevant tax and other exemptions for the projects to be set up in the said zone as per the provisions of the Act.

* to publish a Gazette Notification in terms of section 3 (4) of the Strategic Development Projects Act, specifying the tax and other exemptions to be so granted.

* to submit the said Gazette Notification, which include the tax and other exemptions to be so declared, in Parliament for approval as per section 3 (5) of the Act.