Opposition Leader Sajith Premadasa has warned that Sri Lanka’s 22 million people will eventually have to face the consequences of what he described as the government’s failed and inefficient economic management.
Speaking in Parliament today (06), Premadasa accused the government of relying on what he called inaccurate data from the Central Bank and the Department of Census and Statistics, while claiming that Rs. 17,719 is sufficient for an individual to live for 30 days.
He alleged that despite coming to power promising change, the government was continuing the neoliberal economic policies of the previous administration. He said the increasing tax burden was placing further pressure on the public while contributing to the departure of professionals, including doctors, from the country.
Premadasa also criticised the government over its handling of the IMF programme, claiming it had failed to deliver its election promise of negotiating a new agreement and changing the existing debt sustainability framework.
Citing a World Bank benchmark, the Opposition Leader claimed an individual would require Rs. 2,724 per day under the threshold applicable to an upper-middle-income country and argued that Sri Lanka’s poverty rate would be 65.4% under that measure. He separately claimed that between 30% and 40% of the population is currently living in poverty.
The Opposition Leader also raised concerns over foreign investment, alleging that bureaucracy, unnecessary regulations and policy uncertainty were discouraging investors. He called for a more investor-friendly system that would facilitate foreign projects rather than drive investment away.
Premadasa further claimed that government assistance intended for businesses was failing to reach many small and medium-sized enterprises, particularly those with adverse credit records, as they were unable to obtain financing through the banking system.
He urged the government to shift towards what he described as a more humane, people-friendly and progressive economic policy, with greater emphasis on poverty reduction and support for businesses. (Newswire)
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