Business community support vital for peace - CCC chief
by Lalin Fernandopulle
[email protected]
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Jayampathi Bandaranayake
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The Ceylon Chamber of Commerce (CCC) will seek the support of
traders, farmers and the SME sector to bring about peace which is vital
for a conducive business environment in the country, said Chairman CCC,
Jayampathi Bandaranayake. Bandaranayake who assumed duties as the new
Chamber chief said the business climate will progressively deteriorate
if the government is compelled to spend excessively on a wasteful
conflict.
“The staggering rise in inflation and the increasing number of youth
leaving the country in search of greener pasture are signs of the
government’s excessive spending on a protracted war,” he said.
The CCC along with other chambers and institutions will support the
government to achieve peace. The government cannot resolve the conflict
alone.The business community has to support the peace initiatives.
“The Chamber will be initially involved in the economic resurgence of
the Eastern province and hopefully in the Northern province. A number of
initiatives will be taken to educate people on the ill effects of the
war which deprived people of a better standard of living and educational
opportunities for the youth,” the Chamber chief said.
Bandaranayake said the reasons for the growth in inflation are the
increase in imports and excessive government spending which should be
reduced by bringing an early end to the ongoing conflict. On the long
term, revenue should be enhanced by broadening the tax base and
increasing economic activities.
Stringent measures to control fuel consumption is vital to mitigate
the impact of the rise in fuel prices. Despite the increase in global
and local oil prices the domestic consumption has only dropped
marginally. An improved public transportation and reduction in imports
are essential to curb the growth in inflation.
He said increasing imports will result in more subsidies and
government expenditure will in turn lead to printing more money. |
