Business, labour welcome new Govt
Strong measures to reduce poverty - Employers’ Fed:
The newly elected Government will need to adopt strong measures to
reduce poverty and accelerate the rate of economic growth to reach a
middle-income country status by 2020, said Deputy Director General, The
Employers’ Federation of Ceylon, Kanishka Weerasinghe.
This broad objective will need meaningful measures to raise resources
for development, accelerate production in real sectors, improve
macroeconomic management, control inflation, diversify exports, develop
physical and human resources infrastructure and improve governance in
economic, political and institutional fronts, which are essential for
long-term economic growth and sustained poverty reduction, he said.
The current problems confronting the economy should be identified and
steps taken by the new Government to solve the problems, Weerasinghe
said. The government should create a national employment and human
resources policy and assist the development of small and medium-sized
businesses by reducing its financial and administrative expenditure.
The government should introduce legislation to ensure job security
and increased wages for those in the private sector, creating conditions
for attracting working capital and investment at affordable costs in the
most important sectors and stabilising the banking system and creating a
investment friendly mechanism for strategic companies.
The government should include stabilisation measures, import
substitution, support for non-resource exports, reduction of business
outlays and support for small and medium-sized businesses for
stimulating economic growth and takes steps to create jobs in rural
areas due to high level of unemployment in the rural sector. A major
share of that responsibility rests on the private sector for
accelerating economic growth, increasing jobs and incomes and providing
the resources that will be needed.
Attract foreign investors - CMU
The most important task before the newly elected government is to
accelerate economic growth by attracting foreign investors which will
create more job opportunities and develop infrastructure, Secretary,
Ceylon Mercantile Industrial and General Worker’s Union (CMU) Sylvester
Local industries using indigenous raw material should be encouraged
to be competitive in foreign markets.
The government should introduce legislative measures to ensure job
security and increase wages for those in the private sector, he said.
The government has a significant role to play in helping the private
sector achieve its targets.
It is equally important that Government policies should facilitate
The Government needs to provide a solid framework and set the
conditions for the private sector to succeed.
The Government should encourage entrepreneurs because they can be
considered as builders of a strong economy. More entrepreneurs means
more jobs, more jobs means less unemployment, resulting in economic
Small and medium enterprises (SMEs) should be strengthened and
provided relief. Poverty alleviation programs must not be politically
motivated, Jayakodi said.The government should also focus on the
agricultural sector. Rice is considered an essential commodity by almost
Since we are equipped with the facilities to cultivate this food
source within our own borders, the new government must strive to develop
pesticide free, environment-friendly paddy cultivation which would do
away with imports. The government must prepare a more effective
environment for the improvement of our tea, coconut, rubber and other
profitable plantations while providing protection to small tea
plantation owners, eradicating barriers to thriving coconut