SJB promises relief and reforms after polls

SJB MP Dr. Harsha de Silva 

SJB MP Eran Wickramaratne 

•  Expresses confidence in forming the new Govt.
• Economic plan in consultation with all stakeholders will be rolled out immediately
• Insists SMEs too must receive a haircut upon evaluation 
• Renews concerns over new VAT regime; calls for a balanced approach
• Stresses current regime ignoring suffering of the people

By Darshana Abayasingha

The Main Opposition, Samagi Jana Balawegaya (SJB) expressed confidence in forming a new Government after elections, and the party has already formulated an economic plan in consultation with all stakeholders that will be rolled out immediately. 

SJB MP Dr. Harsha De Silva says his party’s economic agenda will offer some respite to the people, whilst staying close to the deep reforms needed to revive the Sri Lankan economy. 

“The increase in VAT will impose further burdens on the suffering public. We argued hard to remove some sections from VAT, but we could not achieve this. For instance, the purchase of stationary for school children. Is it correct to place burdens on such purchases? Either the Government does not understand the real situation, or it does not want to understand the reality. The Government is saying it can pay all its Treasury Bills this year without borrowings. That is a good thing. But there must be a better balance. We must give our people some hope about their future and not leave them behind,” De Silva stated. 

He noted that Government revenue from taxation in 2023 has reportedly increased to Rs. 3.1 trillion, to an estimated 11.2% of GDP and increase to 13% by next year. Whilst positive movement in the primary balance is welcome, the Government cannot ignore the suffering of the people, the MP added. 

“We will bring in the reforms required to transform the SME sector and offer relief to the people. Banks are pursuing parate executions and imposing further difficulties on SMEs, who may be in trouble for no fault of theirs. The current state of the economy was caused by the Rajapkasa regime. Banks set aside sums for unsecured debt. Why cannot they employ these funds to restructure debt of SMEs that deserve so? If the Government can ask for a haircut for all its mismanagement, why cannot innocent entrepreneurs receive one too? We will bring in reforms to these areas, but that will take some time until we come to power.” De Silva pondered. 

He added there are no easy fixes to the Sri Lankan economy, and there exists no magic bullet to deliver the transformation some parties promise within a span of one to two years. That cannot happen and the program will require a longer period, but this could be done whilst offering respite to the people, he said. 

Joining the media briefing, SJB MP Eran Wickramaratne added that an SJB Government will immediately reengineer processes to attract investment, grow value-added exports and eliminate corruption. He lamented that Sri Lankan export figures have shown no real growth over the past few years, and noted the required impetus has not been forthcoming. Wickramaratne also stated the SJB will reverse the brain drain, and offer opportunities for all Sri Lankans to serve the country under better conditions. 

“We have to stop corruption, we cannot afford to wait for that to happen. The Government is not doing enough, and this cannot be done by regulations alone. There must be action. The recent controversy in the health sector offers a prime example. What has the Attorney General’s department done with the findings? Has the department initiated adequate legal action? We have to lead by example. We will even take action against our own if they are engaged in any act of corruption. This is our policy,” Wickramaratne stated. 

- Pix by Lasantha Kumara