Exporters urge govt. to address key issues immediately to prevent protesters back on streets

• Highlight need to address high cost of living, corruption and implement reforms
• Say new tax policy will augment hardships of the people already battered by high cost of living  

Sri Lanka’s exporters yesterday cautioned that lack of efforts towards eradicating corruption at all levels, non-implementation of much-needed reforms and further hardships on people could send protesters back to streets.

The National Chamber of Exporters (NCE) stressed eruption of such a situation could result in serious implications to the people and businesses and hence called on the government to take a serious look at the soaring cost of living. 

“While the multibillion-dollar loans may have stabilised the nation from the depths of its crisis, lack of reforms and further economic hardships could send protesters back to the streets,” NCE said in a statement.

“Eradicating corruption by political, state, and other parties are mandatory to unlock Sri Lanka’s growth potential. Also, establishing stronger and strategic relationships with fellow countries will definitely support Sri Lanka in its path to recovery,” it added. 

NCE noted with concern that UNICEF has placed Sri Lanka in the category of high acute malnutrition, placing the island nation in the first 10 list of countries with the highest child malnutrition.

It also said alongside the woes brought about by the increasing cost of living, the new tax policy will add to the catastrophic outcomes.

“Considering the fact that any government to be given a considerable period of time to bring back a fraught economy to normalcy, ruling parties must work out immediate solutions to address the most perilous issues at hand,” the statement said. 

“The time is right to implement robust economic drives,” it added.

 According to NCE, such efforts should include the implementation of mass agriculture to ensure food safety, control of corruption, establishing political stability, and the signing of free trade agreements (FTA) with countries like Singapore, Malaysia, and China, while further deepening the existing FTAs with India and Pakistan for improved bilateral relationships.

The chamber urged the President and the Cabinet of Ministers to bring solutions immediately which is the need of the hour, regardless of who remains in power.

Meanwhile, highlighting the importance of the country’s exports sector as the main source of foreign exchange income, NCE urged the authorities to resolve the key issues that impedes the smooth functioning of the export sectors.

“Export value chain has to be continued, supporting all stakeholder organisations to provide an uninterrupted service to exporters, and continued riots will disrupt these services, paralysing exports which will have mortal circumstances,” the chamber said.

It shared that several international buyers have moved to other suppliers in the region due to a loss of confidence.  “This will have detrimental effects on Sri Lanka’s export industry if corrective action is not taken faster to restore the country’s political and economic stability,” the statement said.

It went on to state that it is imperative for Sri Lanka to deliver to the expectations set by the International Monetary Fund (IMF) for a bailout, and for that corrective efforts must be taken to tackle the current economic and political situation.

While the multi-billion dollar loans may have stabilised the nation from the depths of its crisis, the NCE cautioned that a lack of reforms and further economic hardships could send protesters back to the streets. 
To prevent the eruption of such a situation that could result in serious negative implications to the people and businesses, the chamber called on the government to take a serious look at the soaring cost of living.