Stimulus package to rejuvenate economy

by L. S. Ananda WEDAARACHCHI

A number of leading businessmen, bankers, professionals and trade unionists said that the government's stimulus package was a people friendly step to rejuvenate the economy.

Ranjith Hettiarachchi past Chairman Ceylon Chamber of Industries said that the industrial sector welcomes the package since it will help to reduce the cost of living as well as to reduce the production costs of the industrial sector. "This is a good beginning and there are lots to be done. Sri Lanka as well as the whole world is in an economic crisis. The steps to overcome this situation will bring about social equity and industrial peace. Peoples' purchasing power will be strong with more savings due to the reduction of cost of living. These will be competitiveness in the market when the prices come down", he said.

A. Prathapasinghe General Manager Ruhunu Development Bank said that the package will help the development of the banking sector. The low and middle income level rural community is our customer base. There was a slight drop in repayment of loans due to the high cost of living during the last few months and the package will definitely help to reverse that trend, he said.

An officer, on condition of anonymity pointed out that the package has introduced significant remedial measures for banking, industrial, and plantation sectors. Ven. Muruthtettuwe Ananda Thera, President Public Service United Nurses Union pointed out that the political and administrative hierarchy must follow a simple and honest lifestyle in a developing country such as Sri Lanka. He appreciated the cutting down of allowances and payments to the President, Prime Minister, Ministers and MPs as announced in the package. Terrorism must be eradicated but it was a endeavour that needed heavy expenditure. Steps should also be taken to give relief to the people whose support to the government is very vital, Ven. Ananda said. Kalyani Wickramasinghe, a trade unionist and social worker said that they - as women - expect more concessions to the kitchen. The trend of reducing prices of the essential commodities is a very good sign of a people friendly government, she said. Organised trade barriers that block the trickling down of the benefits of the relief measures announced by this Government should be removed immediately. Some traders will not reduce the prices, if the authorities do not act fast she said.

Lalith Dharmasekera President All Island Three-wheeler Drivers Welfare Association pointed out that they agree with the Government request to fix three-wheeler charging meters. At present they charge Rs. 30 for the first kilometre and Rs. 20 for each additional kilometre.

A petrol price cut was offered in respect of three wheelers by the economic package. Dharmasekera said that this is the second occasion that they got concessions from the Government. It is vital to setup an administrative unit in respect of three-wheelers. There are over four hundred thousand three wheelers all over the Island, he said.