CCC congratulates President RW; renews call for multi-party administration

While congratulating the newly appointed President Ranil Wickremesinghe, the Ceylon Chamber of Commerce yesterday renewed its call for a “multi-party administration acceptable to all sections of the public including those who have been demanding a system change.”

In a letter addressed to President Wickremesinghe, Ceylon Chamber said, “We place great hope that you will be able to guide Sri Lanka during this extremely challenging period towards a rapid and sustainable path of economic recovery.”

The trade chamber in its letter also called for “an effective Cabinet appointed with a clear and rational allocation of subjects.”

The letter also highlighted several key focus areas for the administration led by Wickremesinghe.

They were: resuming discussions with the IMF urgently to reach a staff level agreement;  expediting the negotiations with creditors to successfully conclude the debt restructuring process; taking immediate steps to secure adequate supplies of fuel and other essential items while streamlining their distribution; accessing adequate bridging finance to manage immediate cash-flow needs; designing a well-targeted safety net to take care of vulnerable sections of society while addressing concerns relating to food security and embarking on the necessary economic reforms that will provide comfort and assurance to donors and creditors that the country will be steered towards a position of strength and stability. 

The letter also recommended addressing the issues in reviving tourism, promoting foreign direct investment and attracting more remittances through official banking channels through a 100-day programme. 

“We also hope the new administration will continue to pursue the much needed constitutional amendments that are required to strengthen governance and political stability,” the letter signed by Ceylon Chamber Chairman Vish Govindasamy, stated.