In the realm of economic progress, Sri Lanka stands at a critical juncture. While the nation yearns for growth, its policymakers have persistently displayed a perplexing predilection for opposing measures that would benefit the country. Time and again, we witness a troubling inclination toward supporting State-owned businesses, despite their consistent track record of incurring colossal losses. It is imperative that we address this policy paradox and advocate for the urgent embracing of privatisation in Sri Lanka.
The examples of this misguided approach are glaringly evident in the form of SriLankan Airlines and the Ceylon Petroleum Corporation. These two behemoths, once hailed as a source of national pride, have become a staggering drain on the nation’s resources.
SriLankan Airlines, burdened with staggering debt and operational inefficiencies, epitomises the consequences of clinging to outdated models of state ownership. The Ceylon Petroleum Corporation, mired in mismanagement and corruption, is yet another testament to the pitfalls of governmental control. These entities, which were intended to drive economic prosperity, have instead become liabilities that perpetuate financial woes.
Privatisation, far from being an ideological crusade, is a pragmatic solution to revitalise Sri Lanka’s economy. By transferring ownership and control to private enterprises driven by market forces, we unlock the potential for efficiency, innovation, and sustained profitability. The infusion of private capital and expertise can breathe new life into struggling entities, positioning them for global competitiveness.
It is high time our policymakers recognise that the Government’s role should be that of a facilitator, ensuring a conducive business environment, rather than a burdened custodian of ill-fated ventures.
Critics of privatisation argue that selling State-owned assets is tantamount to relinquishing national sovereignty. However, such apprehensions are unfounded and fail to acknowledge the realities of a globalised economy. In an interconnected world, economic success is not rooted in isolationism but in embracing market dynamics. By attracting local and foreign investors through privatisation, Sri Lanka opens the doors to greater economic integration, technological advancements, and job creation. This, in turn, enhances the nation’s standing in the global arena and enables it to harness its true potential.
Regrettably, the moves by certain policymakers to stifle privatisation are not only shortsighted but also detrimental to Sri Lanka’s future. The narrow focus on preserving the status quo perpetuates inefficiency, denies opportunities for growth, and stifles innovation. Moreover, it hampers the efficient allocation of resources and perpetuates the burden on taxpayers, who are left to bear the brunt of State-Owned Enterprises’ losses.
It is imperative that Sri Lanka’s policymakers exhibit the vision and courage necessary to break free from this self-defeating cycle. The privatisation of State-owned businesses should be embraced as a bold step towards unleashing the country’s latent potential. By divesting these entities to capable private hands, we empower them to thrive and contribute meaningfully to Sri Lanka’s economic prosperity.
In conclusion, Sri Lanka must confront the paradoxical stance of its policymakers, who often obstruct the necessary path of privatisation. It is high time that the shackles of State ownership are cast aside, allowing the market to reignite economic growth. The future of our nation lies in embracing privatisation, fostering a competitive business environment, and aligning ourselves with global forces of progress. Let us challenge the status quo, support privatisation, and embark on a journey toward a brighter economic future for Sri Lanka.