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Ceylon Chamber urges multi-party Government acceptable to the public

22 Jul 2022

  • Says new Govt. should be able to win confidence of even those who demand system change
  • Also wants a new Cabinet with ‘rational’ allocation of subjects
  • Requests President to expedite debt restructuring, and resolve fuel crisis 
    The Ceylon Chamber of Commerce (CCC) urges the appointment of a strong multi-party administration that will be acceptable to all sections of the public, including those who have been demanding a system change.  The Chamber expects that once a new administration is formed under the leadership of newly elected President Ranil Wickremesinghe, it will focus on resuming discussions with the International Monetary Fund (IMF) urgently to reach a staff-level agreement, while expediting debt restructuring negotiations with creditors. On behalf of the Chamber’s Board of DIrectors, CCC Chairman Vish Govindasamy congratulated the newly elected President, saying that the CCC has great hope that he will be able to guide Sri Lanka during this extremely challenging period towards a rapid and sustainable path of economic recovery. In a letter addressed to the President, the CCC also said that ”taking immediate steps to secure adequate supplies of fuel and other essential items while streamlining their distribution, accessing adequate bridging finance to manage immediate cash-flow needs, designing a targeted safety net to take care of vulnerable sections of society while addressing concerns relating to food security, and embarking on the necessary economic reforms that will provide comfort and assurance to donors and creditors that the country will be steered towards a position of strength and stability” are measures that require attention.  “The CCC would like to see an effective Cabinet appointed with a clear and rational allocation of subjects,” it added. The CCC also stated: “Other areas of focus that must be addressed ideally through a 100-day plan would be reviving tourism, promoting foreign direct investment (FDI), and attracting more remittances through official banking channels.” The Chamber commended the methodical process conducted in Parliament with decorum and efficiency, in accordance with the Constitution, to elect a new President, demonstrating Sri Lanka’s rich heritage of upholding democratic practices.  “We also hope the new administration will continue to pursue the much-needed Constitutional amendments that are required to strengthen governance and political stability.” “We wish you all success in your new role in the best interest of the nation and its people. The Ceylon Chamber will be available to your office to support the implementation of the above mentioned points and any other matter of mutual interest,” it concluded.


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