Consumer confidence flat in January: Dr. Rohantha Athukorala

Sri Lanka is currently at a crossroads with the spiraling Nielsen consumer confidence report revealing a “flat performance in January” with almost 70% of households stating that their personal finances will be affected in the next 12 months by increases in the prices of food while job prospects are not improving which must be addressed at forums where preeminent Sri Lankan CEOs gather, said top professional Dr. Rohantha Athukorala at the Colombo University MBA residential workshop 2017 held at Anantaya Hotel in Chilaw yesterday.

“We must deliberate and evaluate if Sri Lanka requires 2 million plus foreign visitors in Sri Lanka, which is putting enormous pressure on the food chain of Sri Lanka that is currently experiencing one of the worst droughts in the history of the country affecting people in 14 districts. Let’s accept it, we are not planning our supply chain effectively and output fruits, vegetables, rice and other key staple products cannot meet the demand of today. We also keep importing sugar, rice, dhal, sprats and gram, which are the basics of the Sri Lankan basket of goods which are spiraling due to exchange rate issues,” he said. 

“I want you to deliberate over these key issues facing the country rather than just being in the academic sphere at programs like this,” said Athukorala, who has served at a number of multinational companies across the world, including at the UN in the South Asian region. 

The Colombo University MBA attracts top professionals in Sri Lanka who tend to become powerful CEOs. Athukorala challenged participants, stating that the $ 2-3 being spent by a tourist for a meal is well within the reach of an international traveller but almost 60% of Sri Lankan households live on a wage of 30,000 and below and these kind of costs cannot be absorbed. 

“We from the private sector must engage the public sector and influence economic planning and decision-making,” he stated.