SMEs accuse Govt. of enacting policies to safeguard itself and not country

Tuesday, 19 September 2023 01:12 - - {{hitsCtrl.values.hits}}

Says policy decisions taken by Govt. and CBSL have led to decline of SMEs
Claims 1 m unemployment statistic has become sad reality
Urges Govt. to create an environment conducive to conducting business

Sri Lanka United National Businesses Alliance (SLUNBA) Chairperson Tania Abeysundara addressing a press conference yesterday accused the Government of enacting economic policies to safeguard itself and not the country which is in crisis.

Abeysundara said the policy decisions taken by both the Government and the Central Bank of Sri Lanka have resulted in a gradual and painful decline in the country’s SME sector. “We cautioned that by the end of 2023, at least one million people would be left unemployed. Today, it has sadly become a reality,” she said.

She claimed that local businesses are closing down rapidly with no prospects of recovery.

“Rather than implementing measures to manage inflation that consider the people’s welfare, the Government, via the CBSL, has opted for policies that appear more geared towards its own protection than the well-being of the nation,” she claimed. “We have been oppressed. We are not looking to create problems for the Government. We are simply putting forth sensible requests to foster a conducive environment for conducting business,” Abeysundara emphasised.