Friday Sep 20, 2024
Friday Sep 20, 2024
Friday, 22 March 2024 00:40 - - {{hitsCtrl.values.hits}}
Micro, Small, and Medium Enterprises (MSMEs) on Wednesday expressed gratitude towards Opposition leader Sajith Premadasa for facilitating a direct engagement with the International Monetary Fund (IMF) staff mission m to address their concerns.
Members of the MSME community commended the Opposition leader for his proactive stance on shedding light on the challenges faced by the business community, contrasting it with the government›s lack of action.
Sri Lanka United Nati-onal Business Alliance (SLUNBA) Chairperson Tania Abeysundara lauded the opportunity to present the challenges and implications of the economic crisis on MSMEs. “We highlighted the difficulties faced by MSMEs and stressed the need for governmental support during the 10-month window of the parate execution law suspension,” she said.
She also said the staff mission advocated for them to submit their concerns in writing to the IMF directly. “We hope to continue a direct dialogue with the IMF officials and see positive outcomes for the issues discussed.”
Abeysundara stressed the importance of exploiting this suspension period to support MSME growth and the need for the government to facilitate the sector›s development effectively. “We also explained to the staff mission the government›s tendency to use the IMF as a shield, whilst neglecting the dire financial distress experienced by MSMEs and the concerns of the public,” Abeysundara added.
Another member of the SLUNBA expressed disappointment over State Minister of Finance Ranjith Siyambalapitiya’s dismissive remarks regarding MSME engagement with the IMF, highlighting a concerning attitude towards the sector’s contribution of 52% to the gross domestic production (GDP).
“When the media inquired from State Minister Siyambalapitiya if the SMEs are having a meeting with the IMF staff mission, he replied that the IMF today speaks to anyone on the streets,” SLUNBA member claimed, highlighting the government’s attitude.
However, the MSME representatives acknowledged State Minister of Finance Shehan Semasinghe›s understanding of their concerns.
They also emphasised the significance of the IMF›s recognition of MSME resilience in fostering a healthy economy. They pointed out the absence of a government plan to boost MSMEs and lamented the lack of direct communication channels between the government and MSME stakeholders.
“We appreciate the suspension of the parate execution law and its gazetting, spearheaded by the Opposition leader. However, when it comes to the government’s turn they always lack swift action.”
MSME representatives lamented the delay in presenting the law for Parliamentary approval. They reiterated the urgency of governmental action to support MSMEs during these challenging times.
