Reasonable time needed to implement election promises
View(s):A (pleasantly) surprised business community alerted the newly elected Sri Lankan President to tread carefully in implementing the reform agenda so as not to stifle economic growth.
They hailed the new administration’s commitment to promoting good governance, transparency, and accountability, aiming to strengthen public institutions and create a conducive environment for
Sri Lankan citizens and businesses.
“I am particularly happy that the Sri Lankan state university system was able to produce an elected head of state of this country. I urge all other state universities to also give impetus for such a cause,” Mahendra Jayasekera, Managing Director, Lanka Tiles Group told The Sunday Times Business on Thursday. Noting that Sri Lanka needed to badly press the reset button, he appreciated the democratic process in which it was done. “Now the president should not be in a haste to deliver the promises made at the election. In terms of the timeline for these to be delivered, they should be carefully evaluated. If they are done in haste, it may reduce the economic growth and the business community may lose faith in the new economy,” he said. He also noted that the new president should be given adequate time to conduct his tasks.
A CEO of a company said that this government was elected based solely on corruption and economic issues. The campaign focused on economic issues, with public anger over
Sri Lanka’s doubled poverty rate between 2021 and 2022, adding 2.5 million people to those already living on less than Rs. 1,000 a day.
A senior stockbroker agreed, noting that the government’s anti-corruption stance, maintaining the status quo at the Central Bank, and going ahead with the IMF programme shows the resilience of this business community.
To strengthen this mandate, the people should give the new president and parliament majority power to execute reforms, Chamara Arunoda, CEO and Co-founder Platned, a leading technology solutions provider headquartered in the United Kingdom, said. “It’s crucial to allow reasonable time for implementing these changes. Recent appointments, based on qualifications and merit rather than political motives, inspire confidence. The business community is optimistic and will closely monitor progress.”
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