Industry Ministry in spotlight over delays, underperforming SOEs

A Parliamentary oversight committee has flagged land allocation delays as a major bottleneck for industrial growth, with lawmakers told it can take up to four years to secure land for new projects.

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The Parliament Secretariat yesterday said that allocating land for industrial development was a major issue that arose when the Sectoral Oversight Committee on Economic Development and International Relations recently reviewed the performance of the Industry and Entrepreneurship Development Ministry and its five institutions.

Industry and Entrepreneurship Development Secretary Thilaka Jayasundara brought several issues confronting the industrial sector to the notice of the Oversight Committee. She pointed out that it took four years to allocate land to a new industry, with only 0.01% of the country’s land allocated to industries against a globally accepted ideal of 3%.

Ministry officials said that plans were in place to allocate 50,000 acres of suitable land for industries across the island.

The Oversight Committee recommended that a report be submitted, in consultation with the Land Reforms Commission, the Urban Development Authority, and the Sri Lanka Export Development Board, on the steps that could be taken and the future plan in this regard.