The aim is to provide services with better quality and efficiency to the gem-related craftsmen to increase export revenue, State Minister of Finance Shehan Semasinghe disclosed.

He added that certain institutions that were duplicating the same tasks would be consolidated. And for certain other institutions, the government was anticipating investments from the private sector, to ensure that the institutions would function with no state funding.

The government will also be setting up of a Gem Emporium (Gem Zone) for the benefit of the industry participants.

All these measures will be taken immediately turning around the state owned gem and jewelry institutions and transform the industry into US$1 billion export earner by the end of this year.