FCCISL-IPS Consumer Day Forum tomorrow

The Consumer Day Forum is organised by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) and the Institute of Policy Studies of Sri Lanka (IPS) as a part of the Public Private Awareness effort on issues pertaining to business, economy and the society.

In 1962, John F. Kennedy, Former President of the USA, declared to the US Congress that consumers are the largest economic group affecting and affected by almost every public and economic decision, and yet they are the only important group whose views are often not heard.

On 15 March 1963, he gave an address to the US Congress in which he formally addressed the issue of consumer rights.

He was the first world leader to do so, and the consumer movement now marks 15 March every year as a means of raising global awareness about consumer rights.

The sentiments expressed by President Kennedy are still valid in the present context and there is a crucial need for the civil society and legislative institutions and the consumer as a whole to organize themselves in the interest of the society.

This need has been emphasised with the current rise in prices of a number of consumption goods in Sri Lanka led by escalating fuel prices. The findings of a recent study on the costs to consumers as a result of low levels of trade cooperation in South Asia reveal a minimum consumer welfare gain of approximately US$ 2 billion a year by way of savings on aggregate consumer expenditure on imported products in selected categories. This gain represents about 31 per cent of total current import expenditure on the selected product categories.

Additionally, a perception survey of some key stakeholders reveals a lack of attention given to consumer welfare impacts of trade by trade policy makers in the country.

The primary reason identified is the deficiency of strong and influential consumer lobbies to push for consumer concerns as opposed to powerful lobby groups among domestic producers and industrialists, which has made it easier for political forces to align with local business interests. Another contributory factor is the ignorance of consumers themselves of the benefits of trade liberalisation.

In this context, the Consumer Day Forum is organised with the objective of highlighting the importance of the need to build a network of strong consumer organisations which could generate awareness among consumers in particular and the wider society in general, and influence high-level decision-making to ensure that consumer rights are not forgotten in the policy formulation process.

The forum will be held on 15 March 2012 from 4 p.m. to 7 p.m. at the Auditorium of the Institute of Policy Studies of Sri Lanka at 100/20, Independence Avenue, Colombo 7. The Keynote address will be given by Dr. Sarath Wijesinghe, Ambassador of Sri Lanka to UAE.

FCCISL intends inviting a cross section of the public and private sector, media and researchers amongst others to this important forum. For registration contact Ravindi on 011 230 4253 or www.fccisl.lk/consumer-forum/register.