Economic uplift on cards, post-Emergency

Daily News Business Desk

The lifting of the Emergency would have a major positive impact for the economy, stimulating growth and taking the country even closer to being a wonder of Asia.

An official of the Board of Investment (BoI) said that this would definitely help to increase foreign direct investments to the country.

Chairman Sri Lanka Ports Authority (SLPA) Dr. Priyath Wickrama : The shipping sector is very sensitive and lifting of the emergency would help to increase trade. “Whenever there is a turbulent situation in a country it leads to insurance premia being imposed which in turn creates a negative impact on the industry. With the Emergency being taken off more shipping lines would like to patronise Sri Lanka as the element of risk would be zero. There would be more international players who would like to invest in Sri Lankan maritime industry.”

The Colombo Stock Exchange (SEC) too expressed similar sentiments and said that with restrictions such as Emergency investors, keep away from the stock market.

“With the lifting of the emergency it would build more confidence and would also lead to more trading and also new players entering the market,” an SEC official said.

All political parties must to act in consonance with the best interests of the country and not to take undue advantage to further their political ends with the lifting of the Emergency.

Tourist Hotels Association President Anura Lokuhetti : The tourism industry which received a major boost with the dawning of permeating peace has received yet another shot in the arm with the lifting of the Emergency.

“This would definitely see more international hotel chains coming and investing in Sri Lanka and also take the country even closer to President Mahinda Rajapaksa’s target of 2.5 million tourists 2015.

Mawbima Lanka Foundation Chairman Ariyaseela Wickramanayake: The government’s decision to lift Emergency Regulations is most welcome and must be hailed.

“We should never embrace this emergency regulations again as we have the temple, Kovil, church and the mosque to solve our problems.”

National Insurance Trust Fund Chairman Senaka D Abeygoonasekara: Lifting the Emergency will assist in handling internal, external and global trading easily and investor’s confidence will definitely get a boost. People will not be afraid of investing their money in a secured environment.

“With the lifting of Emergency, tangible companies will have enormous benefits and younger generation will also have a lot of freedom to engage in fun activities.” However, Abeygoonasekara said one must be disciplined and should not misuse this freedom. Nature’s Secret Chairman Samantha Kumarasinghe: Sri Lanka is a law-abiding country and as long as law and order is maintained without hindering the day-to-day business life of the people, there is no impact.