1 October 2021 03:39 am Views - 505
Sri Lankans would be out on the streets from early morning today (October 1) given that the lockdown is lifted by the Government as announced a few days ago. Still, despite that good news, that gloomy feeling remains largely because of the economic constraints having a crippling effect on institutions and the people of this country.
The earnings of people have shrunk and it’s quite difficult for employers to motivate employees to work hard, so that companies and institutes can stay afloat during this financial crisis.
Sri Lanka is experiencing a shortage of US Dollars and globally market prices of goods are rising. The Government announced the other day that it cannot any longer afford to give concessions to people.
This could be the worst time Sri Lanka has suffered economically since gaining independence from the British. The Sri Lankan politicians after gaining independence taught people to waste rather than save. The lavish expenditure incurred in buying luxury cars and the heavy expenses incurred to maintain ministries and their massive staff spelt doom for the country.
At present there are import restrictions on many items and the unavailability of some of them has made the people come down in the scale of living. The government banned the import of 623 items that includes telephones, fans, televisions, washing machines, watches and air conditioners among other items. It’s a known fact that affluent people and individuals who have got to the top with much hard work have upgraded their lifestyles hence it’s hard for such people to scale down in their living, not because they don’t have money, but because goods aren’t available. Even the farmer and the villager engaged in a traditional occupation will have standards to maintain. It’s with this history that the regime is imposing restrictions and asking the citizens to tighten their belts financially.
Take for example the farmers who are demanding chemical fertilizer to ensure the expected produce, but can’t engage in a profitable venture because there is a shortage of fertilizer as the regime is promoting the use of carbonic fertilizer.
People of this country are slowly shrinking in their thinking like during the Government of Mrs Bandaranaike. The end result of that socialist government was that people experienced malnutrition in the country. Economic experts have warned that we’re slowly heading in that direction. Maintaining the individual is so important at a time of a crisis. There is an old custom practised by the tea planters in Sri Lanka where they dress up before arriving at the dining table. This is because when you are alone in a tea estate you can drop the habit of dressing appropriately and stoop down to a low level of where attire is concerned.
This regime must be reminded that Sri Lanka has a rich culture and it takes a great effort to maintain its proud history. This was once a thriving agriculture based country which operated by using water from the tanks built by our kings. Our rulers back then promoted the saving habit starting with water. As the years rolled by two parents engaged in state employment managed their affairs well, ensuring that one monthly salary was always saved.
Times have changed over the years and businessmen the world over know ambitious tricks of the trade to stay afloat during a financial crisis. Sri Lanka must learn the art of fighting back during a financial crisis. There is a difference between saving and shrinking. Business tycoon Sir Richard Branson once wrote in his book ‘Losing my virginity’ the following, “I have always believed that the only way to cope with a cash crisis is not to contract, but to try and expand out of it’.
This is food for thought for the Government of Sri Lanka.