Wednesday, 5  February 2003  
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Towards an economic resurgence

Although we have had peace for an year, the savings that we have made have gone directly into paying our debts. Therefore, the savings are yet to materialise in a manner that could contribute to the economy.

In other words, the country has had no substantial peace dividend so far, although we have done well to stem the once steeply rising defence bill.

While efforts must continue to cut down drastically on our defence expenditure, now that a peace culture is expected to take hold in the country, it is amply clear that it is only a national economic resurgence which could bring substantial material dividends to the entirety of the populace.

Economic prosperity of these proportions, however, could not be expected to materialise in double-quick time nor could it be achieved without industriousness, conscientiousness and unremitting exertion. In fact, greater productivity is one of the most effective answers to inflation and the escalating cost of living.

Put in very simple terms, sky-rocketing living costs are the result of very little money in circulation, chasing a few goods and services. It follows that it is only through an increase of the latter that ills such as the cost of living and inflation could be tackled. Therefore, there is no alternative to increasing economic opportunities for the people and to expanding local productive enterprises.

This would prove to be a daunting challenge, now that the threat of war in the Gulf is looming large, but there is no escaping the need for hard, sustained labour and enterprise if we are to tide over these crises and sustain ourselves economically.

This applies to all sections of society. While the judicious policy inputs to keep the economy humming should derive from the Government, the ruling and political elite should guard against being complacent and naively hopeful that foreign economic assistance alone would keep the economy afloat and that they could remain supinely immersed in affluent lifestyles at public expense.

Examples in industriousness and conscientiousness need to come from "the top" and we call on the political leadership to consistently crack the whip on those functionaries of the State, including Ministers, who tend to forget that spartan living on their part is one of the needs of the hour.

The Prime Minister's initiative to impose stringent curbs on globe-trotting State functionaries was a long overdue measure and more restrictions of this kind are certain to serve the national interest quite substantially.

We have done well to recover from an appalling zero economic growth rate to a much more encouraging growth pace, but all sections of the people need to be gainfully and productively employed if economic recovery is to be a substantial reality in this the Year of Employment.

Future economic planning needs to take into consideration the restricted scope for employment in the State sector. The increasing labour market needs to be endowed with the necessary skills and capabilities to engage in productive and income-generating self-employment ventures.

This applies to employable persons in all parts of the country. Particularly in the case of the North-East, agricultural and animal husbandry skills need to be imparted to the younger generations of those regions to enable them to exploit to the fullest the new economic opportunities which are opening up with the consolidation of the peace process.

The younger generation of employable persons in Southern Sri Lanka too need to be sensitised to these avenues of employment which the peace process is throwing-up.

With the resumption of North-South economic linkages, avenues of gainful and financially-rewarding employment in numerous areas could be expected to open.

However, the main parties to the peace talks need to address the problems that get in the way of facilitating these processes to the mutual benefit of the communities. 

www.peaceinsrilanka.org

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