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| Tuesday, 6 July 2004 |
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Political parties should help implement UPFA economic policy - Nawaz Rajabdeen By Shirajiv Sirimane This is the first time that an economic policy for the people by a government was introduced and political parties must help the ruling party to implement these fiscal policies rather than witch hunt said the Senior Vice President, Federation of Chamber of Commerce and Industry, Nawaz Rajabdeen. Commenting on the new Economic Policy of the United People's Freedom Alliance (UPFA) announced last week by the Minister of Finance, Dr. Sarath Amunugama he said that this was the first time that an economic policy was drawn up with the common man in mind. The government clearly identified key areas such a Fisheries, Agriculture, Livestock and the Small and Medium sector and have addressed their problems. "One clear example is the rebuilding of 1,000 irrigation tanks which would directly help the farmer," he said. He said that what the country now needs is not multi-national companies or high rise buildings. The common man, specially in the rural areas needs basic infrastructure to develop agriculture. The UPFA economic policy has clearly brought about solutions for these burning problem. When these are successfully addressed the common man would be self-employed and he would not have to come to Colombo looking for jobs and would not be a liability on the economy. The government must now implement these policies without delay. Ceylon National Chamber of Industries Chairman, Ranjith Hettiarachchi hailed the UPFA Economic policy and said it would enhance economic growth. "The policies are investor friendly and it also promises to look after the Agriculture and the Small and Medium Enterprise sector which is the backbone of the country. However, he said that it would be difficult to implement some of the proposals. The Government has decided to go ahead with the Noracholai Coal power project but it has run in to opposition. This is the problem the government would face. "The government must go ahead with this project even if it becomes unpopular since it would be good for the country on the long run," he said. Hettiarachchi said that what the government should now do is to draw up an action plan and set deadlines to implement these proposals. The Joint Business Forum (J-Biz) Chairman Mahendra Amarasuriya had said that the UPFA government had not spelled out strategies it would use to achieve such high growth rates. The government has no strategy for making up the extra spending on the fertiliser subsidy and employ more people. The only strategy seems to be to increase revenue collection," he said. Business Development Manager, Bartleet Mallroy Stock Brokers, Angelo Ranasinghe said that the government's approach to help revive the Small and Medium Entrepreneurs which contributes 50% to Gross Domestic Products (GDP) should be commended. Ranasinghe said that the process should be in keeping with global economic trends and not under closed economy. "We would commend the government's effort to develop the rural economy before the internalisation of the economy. The government should reconsider the privatisation process to accrue foreign investments and expertise which are vital for country's economic interests particularly competing with other countries," he said. A leading businessman said the economic policy has helped to dispel doubts the community had in the UPFA government. "It is not a closed economy and there are no import restrictions. The government has indicated that they would like to work with the business community," he said. |
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