Sept 12, Colombo: A Memorandum of Understanding between the Plantation Industries Ministry and the Sri Lanka Rubber Industries Association to implement the Rubber Plan was signed Thursday, September 12, under the patronage of the Minister of Plantation Industries and UNP National Organizer Navin Dissanayake at the Rubber Secretariat.
The agreement was signed by JA Ranjith, Secretary to the Ministry of Plantation Industries and Tommy Ellawala, the President of the Rubber Industry Association.
The objective of the agreement is to implement the Rubber Plan for the period 2017 -2026 as a collaborative project between the public and private sectors to boost the rubber industry.
Through the implementation of the long-term plan, ten projects are to be introduced. The plan aims at guaranteeing a high price for rubber products, the future welfare of rubber growers as well as bringing expertise to the rubber industry.
The fluctuations in the price of raw materials in relation to the price of rubber industry have affected the progress of the industry. The agreement aims to mitigate that.