Lawlessness hampering foreign investors into country – MP Eran

SJB MP Eran Wickramaratne yesterday alleged that foreign investors do not come to the country not because of the lack of tax incentives, but because the country’s laws are not properly being implemented. He said that the fact that Sri Lanka is ranked 99th in the international index of Ease of Doing Business and 164th in the enforcement of agreements is a sound example.

Starting the debate on the Investment Promotion and Technology Ministries, the MP said that all should get together to build a new country. No place could be given to family bandits. However, he emphasized that the Government should provide the conducive environment with required management and efficiency for that.

He demanded that we as a country, as a Parliament and as a Government, should work together to make this country prosperous. In order to do so, he emphasized that it is the Government’s responsibility to follow the rules and regulations and give priority to the rule of law.

Referring to the debate of the VAT Bill, he said that no MP got a reasonable opportunity to discuss the Value Added Tax Bill and it was against procedures in a Parliamentary debate. This VAT Bill was introduced to increase Government revenue. The 2024 revenue estimate is 45 percent higher than the actual 2023 revenue, of which 56 percent is expected from the VAT revenue.

“A Government is by nature a majority party. A Government can bring any Bill and pass it with the majority. But the Government should leave room for debates considering the harm caused to the people. Unfortunately, the Government did not give that opportunity to the Opposition, he said.

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