Biz leaders get campaign economic briefing

Shehan Semasinghe

Dr. Harsha de Silva

Prof. Ranjith Bandara

Dr. Harshana Suriyapperuma

PIX BY PRADEEP DILRUKSHANA

By Nuzla Rizkiya

As Sri Lanka prepares for its presidential elections on 21 September, candidates are unveiling their economic strategies, which could shape the country’s future.

Representatives from the main candidates presented their economic policies to the business community yesterday, offering a glimpse into the potential direction of the nation’s economy. The event, organised by the Ceylon Chamber of Commerce (CCC), provided a platform for each candidate’s team to outline their plans for a country still recovering from its worst economic crisis in history.

The business leaders, keenly aware of the importance of strong economic governance, engaged with the representatives to understand the proposed policies that could impact the island nation’s economic recovery and growth trajectory.

The event, held under the banner ‘Defining the Vision - The Debate,’  featured State Minister of Finance Shehan Semasinghe representing President Ranil Wickremesinghe, Opposition MP Dr. Harsha de Silva representing the Samagi Jana Balawegaya (SJB) candidate Sajith Premadasa, Former Committee of Public Enterprises (COPE) Chairman Professor Ranjith Bandara representing Sri Lanka Podujana Peramuna (SLPP) candidate Namal Rajapaksa, and Former Director at the Securities Exchange Commission of Sri Lanka, Dr. Harshana Suriyapperuma representing National People’s Power (NPP) candidate Anura Kumara Dissanayake.

The debate, moderated by Ceylon Chamber of Commerce Chairman Duminda Hulangamuwa and CCC board member Kasturi Chellaraja, drew a full house.

Semasinghe during his speech asserted that Sri Lanka is on the right path, and the economy is strengthening on a daily basis. 

“We have gathered momentum on confidence of the economy. So, it is up to the people of Sri Lanka to decide whether they take this growth forward,” he said.

Dr. Harsha de Silva shared that the SJB is aiming towards a social market economy that will benefit all Sri Lankans. He detailed a 10-point plan with five pillars, starting with transparency and accountability through measures such as strengthening the CIABOC and establishing an independent public prosecutor.

“Our model is a synthesis of economic freedom, the belief in markets and economic justice, the beliefs in equity and everybody gets a piece of the pie,” he noted.

Prof. Ranjith Bandara presented a vision of the SLPP which targets immediate relief and sustainable growth. He stated that the SLPP policy framework consists of four pillars designed with the aim of increasing the per capita income from US$ 4,000 to US$ 8,000 over a period of ten years along with a 7 percent annual GDP growth rate.

“In our policy there will be immediate relief packages and at the end there will be an economy from Rs. 90 billion to one Rs. 180 billion within a period of 10 years,” he said.

Lastly, Dr. Harshana Suriyapperuma’s presentation focused on the credibility of political leaders and the need for transparent governance. He criticised past mismanagement by citing the recent Auditor General’s reports which indicated that a substantial percentage of government borrowing was unaccounted while highlighting the need for a comprehensive plan to address corruption issues and ensure accountability. 

“We will bring resources together. We will connect entities, connect businesses, and connect individuals, to take Sri Lanka forward. It will be like a creation of production economy. We will connect Sri Lanka to global value chains and allow businesses to thrive to the best potential and at the same time deal with social equity and inclusion,” he noted.