The Government has said that it would formulate a five-year master plan for the country’s various industries.

Minister of Industry and Commerce, Rishad Bathiudeen said that a special team has already been appointed for the purpose. The team is to be led by the State Minister of Industry and Commerce, Champika Premadasa while the Ministry Secretary TMKB Tennakoon and several other key officials would advice the Minister on opportunities, dangers and risks.

The Minister also added that the expected blueprint would encourage Public Private Partnership model, and also integrate top private and public consultants to work in the forthcoming industry reforms.

The initial report is expected by early April and will be then forwarded to Prime Minister Ranil Wickremesinghe and the Ministers of Cabinet.

Of the 2,275 Lankan industries registered by the Ministry of Industry and Commerce to-date, 86% (1,968) are located in the Western Province. However, Ministry officials said that the actual number of industries operating in Sri Lanka exceeds the registered number.

According to the Ministry, of all the registered industries, 21% are in apparel and textile, 15% in food and beverages, 17% in fabricated metal products, 5% in non-metallic minerals, and 2.5% in basic metal product sector.