Ceylon Chamber congratulates new President

• Recommends 10 priority areas on economic front for President to focus in first six months

The Ceylon Chamber of Commerce yesterday extended its best wishes to President Anura Kumara Dissanayake on being elected the ninth President of Sri Lanka and recommended 10 priority areas for focus in the first six months. 

“We call for all parties to continue to respect the outcome of the election in a peaceful manner without disturbing the normalcy of the public, demonstrating our respect towards democratic ideals,” The Chamber noted in a statement.  It also extended its gratitude to former President Ranil Wickremesinghe for his leadership during an exceptionally challenging time, particularly for his role in achieving debt sustainability and ensuring economic stability. “Additionally, we commend the Election Commission for their efforts in conducting a peaceful and transparent election,” it added.

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The Chamber noted that it looks forward to the President working together with all stakeholders in developing prudent growth strategies that will provide desirable results to the people. “In this context, and in line with the manifesto of the new President and The Ceylon Chamber’s Vision 2030 document, The Ceylon Chamber would like to recommend the President prioritise the following 10 areas on the economic front in the first six months of his term,” it stated.

The key areas include: 

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1. Complete external debt restructuring, building on the recent announcement of commercial creditors. Further, continue with the IMF program with the aim of a successful third review and fourth tranche disbursement. 

2. Expected changes in expenditure outlined in the manifesto to be implemented if backed by credible revenue proposals that do not burden the existing taxpayer. Relook at matters related to revenue collection, such as RAMIS and SVAT. 

3. Resolve the visa on arrival issue immediately.

4. Implement Digital Public Infrastructure and Digital ID.

5. Commit towards the implementation of the National Single Window for Trade and take steps to pick the low-hanging fruits that will provide benefits to the trade and people. 

6. Form the necessary delivery space for reforms. The Chamber’s Vision 2030 document recommended a National Implementation Oversight Committee tasked with reform delivery. 

7. Implement legislation related to the Economic Transformation Act, Public Debt Management Act, Public Financial Management and the Sri Lanka Electricity Act.

8. Avoid implementing ad-hoc gazettes/circulars that can adversely impact the functioning of the private sector. Changes to be made in consultation with the private sector and relevant stakeholders. 

9. Follow through with the Government Action Plan that was prepared based on the IMF Governance Diagnostic Assessment.

10. Recommence Trade Agreement negotiations with China, India, and Indonesia. 

The Ceylon Chamber assured its unstinted commitment and wholehearted support to engage productively with the newly elected President in transforming Sri Lanka into a developed economy.