20 April 2022 12:53 am Views - 186
In a letter addressed to President Gotabaya Rajapaksa, Sri Lanka’s private sector represented by the joint chambers yesterday urged the President to immediately initiate legislative action to repeal the 20th Amendment to the Constitution, to end the current political deadlock.
“This we are confident will ensure a better balance of power between the Executive and the Legislature along with the reintroduction of the Constitutional Council and other independent Commissions that will lead to a more acceptable political framework that could help resolve the current impasse,” a joint chamber statement said.
It also said the repealing of the 20th amendment will be viewed as a historic positive development for this country both from a political and economic perspective.
“Once this is done through a consensual approach, we recommend that a bi-partisan national government is established with the ability to support the economic management team to steer the country out of the current economic crisis and resolve the continuing issues relating to fuel, electricity, gas and other critical elements of the supply chain,” the statement noted.
The joint chambers meanwhile expressed concerns over the growing public unrest, that could potentially derail the action being taken to resolve economic crisis, and that the absence of political stability could significantly disrupt the successful and speedy completion of initiatives taken thus far.
Meanwhile, the joint chambers welcomed Sri Lanka’s negotiations with the Internatonal Monetary Fund (IMF), the process of selecting legal and financial advisors to guide the debt restructuring process and the suspension of external debt repayments.
“We also hope that these actions together with bridge financing arrangements can be translated to reduce the power interruptions that continue to disrupt daily lives of people and business activities,” the statement noted.
The joint chambers consist of Ceylon Chambers of Commerce, Federation of Chambers of Commerce and Industries Sri Lanka, Joint Apparel Association Forum, Chamber of Young Lanka Entrepreneurs, ICC Sri Lanka, National Chamber of Commerce of Sri Lanka, Exporters Association of Sri Lanka, Chamber of Construction Industry of Sr Sri Lanka, Women’s Chamber of Industry and Commerce, Amercian Chamber of Commerce Sri Lanka and Ceylon National Chamber of Industries.