Pivotal role for private sector - Nivard Cabral

by Rohan Mathes

UPFA Economic Advisor Ajith Nivard Cabral refuting recent media reports, assured that 'Mahinda Chintana' is a private sector oriented document.

Addressing a 'Dinawamu Sri Lanka' press conference in support of UPFA Presidential hopeful Mahinda Rajapakse at the SLFI yesterday, Cabral asserted that certain sections of the media and some political parties are misleading the nation that 'Mahinda Chintana' would portray an anti-private sector policy.

"This is absolutely untrue. We want the private sector to be an active partner and ensure that they play a vital role in the economic development of the country. We plan to set up 12 economic zones in various parts of the country with private sector participation. We may form strategic alliances even with foreign partners who bring foreign direct investments. We also plan to have a minimum of 325 industrial factories in each of our AGA divisions."

He said that the fruits of economic development should trickle right down to every area of the country, as opposed to the Western province focused economy. There had been a significant economic growth only in the Western province.

"We will ensure that the fruits of economic growth and development is balanced everywhere in the country. In a balanced economy, the fruits of development are balanced," Cabral opined.

We are also concerned, he said, about developing our Small and Medium-scale Entrepreneurs who will generate employment. It is the Government of Sri Lanka which has to support them. The 'Mahinda Chintana' is just that.

He argued that under the given conditions, the projected growth rate of 10 per cent by Ranil Wickremesinghe is unrealistic, as opposed to their eight per cent, which he said was achievable. Only two other countries, China and South Korea had ever achieved a 10 per cent growth in the world, and that was phenomenal, he said.

Cabral consolidated his argument stating that to achieve the projected target of 8 per cent, they had set out certain strategies to enhance foreign investment, develop the SMEs, develop the national industries such as agro, fisheries and tourism, increase savings and ensure the private sector plays a pivotal role.

UPFA Presidential campaign Co-Spokesman Minister Mangala Samaraweera addressing the media conference, pointed out that the SLFP ought to be protected from the UNP and Wijewardenes, who have always conspired to destroy the SLFP.