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| Sunday, 17 March 2002 |
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Business community calls for Budget focused on national development by SUREKHA GALAGODA The forthcoming Budget should focus on national development based on private sector-led growth and financial reforms, several members of the business community told the Sunday Observer. They called for special attention to infrastructure development, export promotion, reduction of government expenditure and incentives for investment. Chairman and CEO of Dialog GSM and Chairman Arthur C. Clarke Centre for Modern Technologies Dr Hans Wijayasuriya said that to kick start the Information and Communication Technology (ICT) journey, budget provisions for development of infrastructure are necessary. At present nobody is investing in the sector due to poor infrastructure. Therefore, the Government should boost investment to the infrastructure sector especially to increase Internet bandwidth. This will definitely attract secondary investments such as call centres and application development companies to the country. The private sector will think twice before investing in infrastructure to develop the ICT sector, but if the Government does the initial investments, it will give a boost to the sector and also encourage the private sector to invest, said Dr Wijayasuriya. He said that since concessions to the ICT sector have been given in the earlier budgets, there is nothing to complain. He was of the view that the country has not exploited the potential of ICT-based industries. Chairman of the Sri Lanka Fruits and Vegetable Producers, Processors and Exporters Association (SLFVPPEA) Sarath De Silva said that if the maiden budget of the UNF can help exporters with a freight rebate, it will definitely encourage the exporters to strive hard. Concessions are also required to recapture the lost markets of South Africa, Australia and India. "We are pledging to help the country to increase production of fruits and vegetables and reduce the cost of production, increase yields and double exports," he said. SLFVPPEA has presented a plan to the government to increase production as well as exports of fruits and vegetables. Plans have also been spelt out on how to improve the quality and the yields of the fruits and vegetables. It is said that the country will face a water crisis. Therefore, it is necessary for farmers to adopt methods to reduce the use of water. Chairman of the Ceylon National Chamber of Industries Asoka De Z. Gunasekera said that the focus of the budget should be on the reduction of the budget deficit, improvement of productivity in all sectors, promotion of exports and improvement of infrastructure. He said the Budget should look into pruning down all expenditure in the state sector, cutting down wastage, rationalising of government departments and corporations and closing down those that are not necessary. He said that a management review of the need, size and scope of government departments and corporations is necessary. In addition, the earlier system of Treasury control on expansion and creation of new positions should be introduced. It is also necessary to target welfare activities while eliminating waste and corruption. Government officers should be held accountable for their acts of omission and commission and appointing of Chamber members to government boards is necessary, stressed Mr Gunasekera. Managing Director of Hatton National Bank Rienzie T. Wijetilleke said that the Budget should present proposals to re-establish confidence in the country's economy and accelerate financial sector reforms. He said that steps should be taken to give confidence and attract local and foreign investors to Sri Lanka while assuring them long-term returns. |
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