Chamber lauds private sector help in budget preparation

Ruwanthi ABEYAKOON

AWARDS: Key concerns such as the high cost of energy, need for sound infrastructure especially in the regions, maintaining law and order, consistency and continuity in policy, high rate of inflation are a few of the key areas impacting business performance, President, National Chamber of Commerce Nirmali Samaratunga said.

Speaking at the third National Business Excellence Awards ceremony, Samaratunga said, many of these key areas of concern have been addressed in the 2007 Budget.

'In this year's Budget, emphasis has been placed on the bridging of the urban rural divide through pro-poor, growth strategies, primarily focusing on regional and rural development.

"Specific emphasis has also been placed on strengthening infrastructure, namely in power generation and distribution, road and port development and water supply," she explained.

She commended the joint consultative approach involving the private sector in the preparation of the Budget proposals.

"For businesses, whilst additional taxes and other revenue raising measures will no doubt have their implications, this is inevitable in the wider context of bridging the budget deficit, particularly due to the need to finance the infrastructure needs, servicing debts and the defence expenditure," Samaratunga said.

She added that businesses keep the economy moving forward. "Businesses play a vital role in driving the economy. To survive and grow amidst the ever changing global and local scenario is a challenge for every business," Samaratunga said.

"Internationally market conditions continue to be very demanding with increased competition and higher and more stringent quality standards.

In view of the focus on an export led economy, it has become imperative to enable businesses to gain that competitive edge in the international market to survive," Samaratunga said explaining the necessity of having conducive business environment to maintain and improve the performance.

Defining excellence Samaratunga said that studies include customer intimacy, operational excellence, innovation, creativity, corporate culture, governance, leadership and employee talent. "Most Companies will have some of these attributes.

However, Excellent Companies will possess more of these attributes than others. As was once said "Excellence is not a Skill - it is an attitude", she said.

At this years awards ceremony, Commercial Bank of Ceylon Limited walked away with the Gold Award.

The Silver award was won by Macksons Paint Industries (Pvt) Ltd and Sri Lanka Insurance Corporation Limited while Daya Apparel Exports (Pvt) Ltd won the Bronze award.