Ceylon Chamber looks forward to working with new President

The Ceylon Chamber of Commerce has congratulated new President Anura Kumara Dissanayake and urged all parties to continue to respect the outcome of the election in a peaceful manner without disturbing the normalcy of the public, demonstrating their respect towards democratic ideals.

“We also extend our gratitude to former President Ranil Wickremesinghe for his leadership during an exceptionally challenging time, particularly for his role in achieving debt sustainability and ensuring economic stability. Additionally, we commend the Election Commission for their efforts in conducting a peaceful and transparent election,” the chamber said in a statement on Monday.

The chamber said it looks forward to the President working together with all stakeholders in developing prudent growth strategies that will provide desirable results to the people.

In this context and in line with the manifesto of the new President and the Ceylon Chamber’s Vision 2030 document, the Ceylon Chamber recommended the President prioritise the following 10 areas on the economic front in the first six months of the term:

1. Complete external debt restructuring building on the recent announcement of the commercial creditors. Further, continue with the IMF program with the aim of a successful third review and fourth tranche disbursement.

2. The expected changes in expenditure outlined in the Manifesto to be implemented if backed by credible revenue proposals that don’t burden the existing taxpayer. Relook at matters related to revenue collection such as RAMIS and SVAT.

3. Resolve the visa on arrival issue immediately

4. Implement Digital Public Infrastructure and Digital ID

5. Commit towards the implementation of the National Single Window for Trade and take steps to achieve the low-hanging fruits that will provide benefits to the trade and people. 

6. Form the necessary delivery space for the reforms. The Chamber’s Vision 2030 document recommended a National Implementation Oversight Committee tasked with reform delivery.

7. Implement the legislation related to the Economic Transformation Act, Public Debt Management Act, Public Financial Management and the Sri Lanka Electricity Act

8. Avoid implementing ad-hoc gazettes/circulars that can adversely impact the functioning of the private sector. Changes to be made in consultation with the private sector and relevant stakeholders.

9. Follow through on the Government Action plan that was prepared based on the IMF Governance Diagnostic Assessment

10. Recommence the Trade Agreement negotiations with China, India and Indonesia