Social Justice Commission to be set up to distribute benefits of economic growth fairly among all

• Prez RW says foundation being prepared to rekindle middle class squeezed by economic crisis 
• Says National Economic Policy for next 25 years is currently being prepared

Addressing Parliament, President Ranil Wickremesinghe yesterday revealed plans to set up what he called a ‘Social Justice Commission’, where benefits of economic growth are distributed fairly among all the people.

“I am committed to making effective changes for the future of the society. The foundation is being prepared to rekindle the middle class. Benefits are distributed fairly to the entire society, through a social market economy. I am taking measures to establish a Social Justice Commission for this purpose,” Wickremesinghe said.

He also pointed out that as a result of the prevalent economic crisis, the income disparity in the society is widening and the middle class is shrinking.

While showing clear determination to reform the loss-making state-owned enterprises, which have played in the country’s economic downfall, Wickremsinghe said his government is preparing a National Economic Policy for the next 25 years, which would lay the foundation for a social market economy. 

“In order to strengthen our journey towards a developmental economy, we should examine the past. Why did our economy fall into such a low level? Why did we inherit negative results? Was it due to mistakes made by individuals? Or due to policy deficiencies? How were individuals allowed to manipulate the economy as they wished? Can the economic policy of a country vary from person to person? Is it favourable for the country or else harmful to change policies from time to time?” he questioned. 

“If we build the country, the nation and the economy through the national economic policy, we would be able to become a fully developed country by the year 2048, when we celebrate the 100th anniversary of independence,” he added.