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* 2018 Budget propose incentives to discourage use of polythene
Mon, Nov 13, 2017, 12:18 am SL Time, ColomboPage News Desk, Sri Lanka.

Nov 12, Colombo: Sri Lanka's 2018 budget, which aims to create a Blue-Green Economy in the country proposes programs to discourage the use of plastics and polythene.

Non-biodegradable waste is a major problem Sri Lanka is currently facing and dispose of plastics and polythene has caused severe environmental problems.

Accordingly, to discourage the use of Polythene and Plastic products, the budget 2018 has proposed to impose an excise duty of Rs. 10 per kilogram for Plastic resins.

The private sector will be incentivized to convert to environmentally friendly alternatives and to engage in manufacturing bags, packing materials etc. out of biodegradable materials such as banana fiber, palm leaves, coir, bamboo etc. The government will allocate Rs. 75 million for the project.

The budget also proposes to remove Customs duties for all machinery, equipment, raw materials and intermediary goods used in manufacturing of bio degradable packaging material.

The measures are expected to reduce the environmental pollution in the island's coastline which is a huge contributor for the Blue-Green Economy.

 

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