Sri Lankan business community free to express views without being penalised
Some years ago, under the former regime, those in the business community who made independent views on economic and business issues were penalised by the Finance Ministry and the Treasury.
Faiszer Mustapha, Minister of Local Government and Provincial Councils speaking as the Chief Guest at the 58th AGM of the National Chamber of Commerce of Sri Lanka held in Colombo last week, alluded to this, saying, “At one time Dr. P.B. Jayasundera, Secretary to the Treasury, penalised those who articulated their position. I am bold enough to say that some businessmen and some officials of the chamber have told me that they were scared to articulate their position. They were penalised for doing that”.
He told the chamber officials that all of them have a collective responsibility as the chamber plays an important role in the economy, and to carry out their duty with great responsibility as the chambers also engage in decision-making on national policies.
He said that at one point of time the dissenting voice was not allowed but now it could be the Finance Ministry or even his ministry where everybody has the freedom to articulate their position – the media is free to do so, the civil society is free to do so.
He said that this attitude has dramatically changed and pointed out that the country is enjoying freedom and if those who are involved in the economy did not articulate their position properly there is tendency for the Government to go wrong.
“Tell the Government what is right, Might is not right. Right is right. Wrong is wrong. What about this government? There is a right to dissent.  Today we are very transparent, very open, though there are issues. But within the government we dissent, we express our views. Even the Cabinet is  an open forum.”
Dr. Harsha de Silva, Deputy Minister of Foreign Affairs as guest speaker painstakingly elaborated the US economic policy after President Donald Trump and how it affects the economy of the world, Asia and Sri Lanka and what advantages there are for Sri Lankan economy.
While Trump envisaged sweeping changes in the foreign policy and the economy, Dr. de Silva said the policies are inward looking, anti-trade and regressive which could dampen the global trade flows. He said that due to this envisaged inward policy of the US, China is now prepared to open up to other countries.
He pointed out that FDI in Sri Lanka last year was at around US$300 million
- one third compared to 2014. In the meantime, he indicated that the country is facing a crucial vote at the UN Human Rights Council in March on alleged violations of human rights during the final stages of the war. The non-intervention foreign policy of Trump, he said could have some relief, sometimes.
He predicted a gloomy world under President Trump and said that the global trade which has already slowed down from its heydays during the hyper globalisation era could further slow-down if the US closes its border for global goods or imposes a border tax. He said that the signs of slowing global trade and supply chains have already hit the industries and  businesses around the world.
The logistics and freight forwarding and shipping business have already been affected and these companies are going bankrupt or merging for survival.
He said the Economic and Technology Cooperation Agreement (ETCA) between India and Sri Lanka would be inked by June this year.