By products

By Products

A by produced could be defined as a good produced in addition to the main product with the use of waste of residue of producing the main product.
Eg.Production of tars , grease , petroleum gas etc. with the use of residue in the oil refinery.

The Objectives of the Industrial Policy of Sri Lanka

1. Propagation of export oriented industries.
2. Creating more and more employees opportunities.
3. Enhancement of personal incomes and living standards.
4. Making the balance of payments favorable.
5. Raising the living standards of the people through an distribution of income and wealth.
6. Development of industries to a higher level.
7. Raising per-capita incomes.

Strategies for Promoting Industries in Sri Lanka

1. Stabilization of the economy , control of inflation and following macro economic policies suitable for          productive economic activity.
2. Providing special incentives for investment.
3. To obtain new technology for the purpose of promoting the inflow of capital into the country. Encouragement of foreign investment in order to achieve market expansion.
4. To carry forward the policies of privatization.
5. To uplift the export oriented industries through an improvement of international competitiveness of the industries which have been provided with special incentives.
6.  Promotion of small scale industries.
7. Implementation of the human resources development program.
8. Relaxation of exchange control, import and export permits etc.
9. To accommodate foreign investors in the share market of Sri Lanka without restriction (by the removal of taxes)
10. To take action to enter the international market by maintaining relationships with internationally famed institution.
11. Enhancement of productivity.
12. Institutional support from the government sector.
13. Development of infra structure facilities.
14. Promotion of  the use of domestic raw materials.