Give 'Buy Lankan' a boost

There is no better way to self-sufficiency and autonomous development than by reinvigorating the Lankan economy. One of the keys to such reinvigoration and dynamic resuscitation of the local economy is 'Buying Lankan'. That is, by the consumer increasingly buying goods and services manufactured locally.

We are glad that a number of stakeholders, including patriotic sections of the local corporate world and the State are coming together to help boost the Maubima Lanka Foundation's 'Buy Lankan' campaign. The key aim of the campaign is to promote the sale and consumption of locally-produced goods and services. In other words, boosting the indigenous manufacturing base.

We wish this campaign well because there is nothing which is more desirable in the development context, than a strong and autonomous local economy which will be least influenced by external factors.

This should not be misinterpreted to mean that we are endorsing a closed economic policy but are calling for a robust local manufacturing base which will be to a considerable degree, driven by local resource utilisation. The end result would not only be less dependence on imported goods and services and a healthier balance of payments position but also a decrease in inflation and related problems.

'End inflation' is the increasingly heard cry, but there are no constructive suggestions by most of those thus crying themselves hoarse, an how this malaise should be contained. It should be plain to see that increasingly producing and consuming things Sri Lankan is one of the most effective ways of beating inflation.

The consumption of local goods will help in sustaining and expanding the indigenous production base and such self-sufficiency will make us less dependent on imports which help spike our cost of living and food import bill.

Therefore, the 'Buy Lankan' campaign could not have come at a better time. It is impossible to think of self-sufficiency and independent development other than by buying locally and helping to put our local producers on a firmer footing in terms of business prosperity and growth.

Unfortunately, there persists this widespread, self-defeating tendency to hanker after only things foreign. This habit has, of course, proved very costly in the past. A multitude of local industries have been wiped out as a result of the local market being flooded with imported goods which could easily be manufactured locally.

We do not intend to make out that all imports are bad but that careful discretion should be exercised in liberalising our imports. What could be manufactured locally should not be imported. This would be a fillip to local production.

There are a number of local manufacturers who are making a name abroad too on account of their brands being popular. This is a pointer to the enormous local business talent which could help put Sri Lanka on the map as a producer of acceptable, durable goods.