In upcoming presidential election, it is not my personal victory or defeat that is at stake, but rather the triumph or failure of the entire country
President Ranil Wickremesinghe emphasized that the upcoming presidential election will not be about his personal victory or defeat, but that of the country’s success or failure.
The President noted that if the people are satisfied with the government’s program, they can support it. Otherwise, they will face the consequences of living in a country with a collapsed economy, struggling to supply essential items like medicines and fertilizer, and experience long queues for fuel and gas.
President Wickremesinghe made these remarks during a Dialogue on Policy Reforms held at the Water’s Edge Hotel in Battaramulla yesterday (11), with Youth Representatives of the Parliamentary Sectoral Oversight Committees
The President highlighted that those making various promises on platforms today lack a concrete program to move the country’s economy forward. He also emphasized the need to avoid past mistakes by making decisions during elections, focusing on individuals.
To advance the nation’s economy, the President urged all political parties to support the Economic Transformation Bill presented by the government. He also invited them to present any alternative proposals they might have for the country.
President Ranil Wickremesinghe further stated,
“Today, you are gathered here as members of the Parliamentary Sectoral Oversight Committees. Since assuming the presidency, an idea was imparted to me during a discussion with Mr. Karu Jayasuriya, which has evolved into what we witness today. We have provided young leaders with a platform to contribute to governmental initiatives by offering their insights and recommendations for the nation’s future plans. Consequently, we carefully consider all viewpoints presented.
There is prevalent discourse regarding the economic bankruptcy of our country today. However, I do not fully concur with this assessment. Our country is not only facing economic challenges but also political ones. These intertwined issues have become a formidable challenge that demands our attention.
The absence of a formalized economic structure has left our country vulnerable to significant challenges. Historically, our economy has relied heavily on imports, creating a situation where our expenditure exceeded our financial resources. Compounded by the financial burdens of war, our fiscal situation deteriorated further. Despite hopes for rapid economic growth following the end of the war, progress has been limited. Fifteen years on from the end of the war, we find ourselves still grappling with economic stagnation. We persisted in employing outdated methods, resorting to borrowing when faced with financial constraints, ultimately leading to unsustainable debt levels.
During this period, there was a reluctance to acknowledge the reality of our economic situation. However, we recognized the urgent need for economic reform and made commitments to that effect during electoral campaigns. Regrettably, amidst these efforts, certain elements within the country propagated unfounded fears of national sovereignty compromise. Despite such assertions, we find ourselves in a state of financial crisis.
In 2015, during my tenure as Prime Minister, I had to implement tax increases to address the country’s revenue needs. However, in 2019, President Gotabaya Rajapaksa assumed leadership and initiated tax reductions, resulting in a decline in revenue. This reduction coincided with the onset of the Covid-19 pandemic, exacerbating our financial challenges. Despite the pressing need for foreign exchange reserves amounting to US$3 billion, this critical issue received little attention during the parliamentary elections. While our party, the United National Party, highlighted this concern in our policy statement, other parties focused on making unrealistic promises to voters. Consequently, our party suffered significant losses in the election, winning only one seat.
It is unprecedented for a party with just one seat to appoint a Prime Minister or President. This situation underscores the political turmoil and lack of leadership in our country. Faced with this crisis, I assumed the presidency to address the economic challenges.
Recognizing the importance of empowering the youth, we have initiated programs to foster their understanding and involvement in shaping the country’s economic future. It is imperative to equip the younger generation with the necessary skills and knowledge to lead our nation forward.
Today, certain politicians are making extensive promises without presenting any concrete policies to drive the country’s economic growth. Despite prolonged discussions between the opposition leader and Mr. Anura Dissanayake regarding debate formats and venues, no agreement was reached. Regrettably, none of these individuals have put forth a viable economic agenda.
In light of this, it is essential for them to articulate whether they offer alternative approaches beyond the government’s initiatives. However, no such proposals have been forthcoming. If they are unwilling to engage constructively, it is imperative to consider alternative avenues for progress. Engaging in such programs facilitates valuable interactions with officials and the private sector, fostering knowledge enhancement and the generation of new ideas. I extend an invitation to all stakeholders to break free from conventional paradigms and propel the nation forward collectively.
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