Former UNP Deputy Leader, MP Ravi Karunanayake, highlighted in Parliament the gap between the government’s promises and the reality of the gem and jewellery sector.
He pointed out that while the industry is often promoted as a potential multi-billion-dollar business, mining remains limited, value addition is weak, and access to international markets is low. Most gems are exported in raw form, reducing potential revenue, while allegations of inefficiency, poor supervision, and irregularities in storage and processing continue to erode public trust.
MP Karunanayake questioned whether high taxes and excessive regulation are holding back the industry, stressing the need for a comprehensive and transparent policy.
He proposed expanding designated gem mining sites, modernizing the auction system, incentivizing domestic cutting, cleaning, and value-adding activities, and positioning Sri Lanka as an international hub for genuine gems. He also emphasized the importance of tax clarity, protection for small miners, and environmental safeguards.
