19A creates a conducive environment for Sri Lanka: State Finance Minister

By Charumini de Silva

State Finance Minister Mahinda Samarasinghe said the 19th Amendment adopted in Parliament had put in place a conducive environment for Sri Lanka to benefit not only internally but internationally.

He said that we needed to accept and appreciate that there was new criteria today governing development assistance, whether it was bilateral or multilateral aid. 

“No longer are economic goals being considered as the only criteria. Lending agencies, bilateral and multilateral as well as regional capital markets look at various other criteria such as the status of human rights, governance and rule of law that are put into place to ensure greater transparency and accountability. This is something that we have now been able to achieve, with a position of consensus, transcending political barriers,” he said addressing an event in Colombo recently.

The Minister revealed that there was a huge consumer loss resulting in non-transparent activities and highlighted the importance of implementing independent commissions — Procurement Commission and the Audit Commission. 

The implementation of these independent commissions would lead to greater accountability and transparency when doing business and to improve investor confidence in Sri Lanka. 

Samarasinghe said coming out of the 30-year conflict just six years ago, Sri Lanka had a lot to show in terms of the peace dividend in the country. The objective now is to win the peace and winning the peace is an arduous task considering the different dimensions that encompass the road to a final comprehensive reconciliation and sustainable peace. 

“I have always maintained that growth per se is not development. Growth which enhances social justice is development. When we look at that objective in such context, I think the 19th Amendment becomes even more relevant. We are now in the process of coming together to bring in the 20th Amendment to put in place electoral reform, which would result in effective representation at the grass root level,” he stressed. 

Hence the Minister pointed out that there is also a lot of work to be done to ensure that the rich diversity – the multi-cultural, multi-religious, multi-ethnic, multi-lingual composition of our country is protected and nurtured. 

“I have no doubt that this would only strengthen our resolve to achieve greater prosperity as a nation,” he emphasised.