PM says political initiative will bring about political stability

04Prime Minister Ranil Wickremesinghe says the National Government consisting of the country’s two major political parties headed by President Maithripala Sirisena is introducing a politics of convergence to consolidate democracy.

He says this political initiative will bring about political stability and a bi-partisan agreement to formulate a stable economic and political framework – an urgent need given decades of highly partisan and parochial politics. In this background economic reforms in Sri Lanka have received a fresh impetus.

The Prime Minister said this while speaking at the 12th World Islamic Economic Forum in Jakarta, Indonesia.

“The Islamic nations of the world have, by and large, weathered this economic storm far better than other countries. Being blessed with a vast array of natural resources that have been judiciously harnessed to bring rapid economic and social progress to your societies, the Islamic crescent of nations stretching from Africa to South East Asia has seen progress and prosperity for several decades,” the Prime Minister said.

He also said that Sri Lanka has long been acknowledged as having the potential to become a geo-economic centre in the Indian Ocean.

“With this in mind, we are implementing the next round of macro-economic structural reform in conjunction with an ambitious programme of infrastructural development,” he added.

He also said that the Government is currently navigating trade liberalization through a mixture of initiatives and has undertaken several bilateral trade enhancement initiatives, which will accelerate Sri Lanka’s access to the world’s major markets. (Colombo Gazette)

1 COMMENT

  1. Sri Lankan entered a new phase of economic uncertainty as the country went through amazing roller coaster ride since 2015 January 8th and 2015 August 17 that after MS being President and UNP-Ranil.W… Primer elected minority ruling party of current Parliamentary system of democracy.

    The very negative growth in 2015 January was cause by cutback investment and trading in every field in recession followed in the wake of an unsustainable boom of ongoing business related projects ;and declined the sales of many commodities that they had not been able to buy in 2009 May or allowed to buy after end of war against Tamil LTTE-Terrorists.

    By and large that foreign back created recession of 2015 January were all connected to expel of Chinese investments of various projects stop by UNP -Ranil W…. ruling party was shock for business in Island.

    In fact Current ongoing recessions of after 2105 January was deliberately engineered by ruling parties headed by UNP leadership since last 19 months, which CB Bond’s High interest rate to tame inflation. The resultant of reduction of national wealth and declined purchasing power of public was caused by that crush of Economy of Island.

    In addition to exogenous upward or downward of stock prices and its market the internal unwise of economic decisions leads to undermined business cycles and new investments of locally and foreign capitalist .

    Demand rises supply of goods of import accelerate being decaling. Because lost of sales are rising business firms all along the delivery chain decided that they need to add to their inventories of finished good or raw materials in the process being unable produced.

    In companies short of orders more of the products or components in question?
    Less buying may set in among both consumers and suppliers who worried that they will not get what they need as delivery time lengthen.

    Since 2015 January the MS led UNP rule of regime that even slow down in the RATE OF GROWTH can lead to dramatic reduction in orders for the production of new equipment. With production falling in both consumer goods sector and the producer goods sector ,manpower are laid off incomes and purchasing power fall.

    Ongoing less consumer income sales fall of that increased VAT taxes sales fall dramatically by misrule of UNP-Ranil economics measures. The misjudges of economic advices by Tamil thinking tanks and Singhoporean lead to undesired inventories build up.
    While Companies on business cut back further on orders.

    UNP misdeeds of economic rule of governance has created economy spiral downwards by Ranil .W,,,,misrule of economy has lead to uncertainties in overall.. development and growth national economy.

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