Opposition Leader Sajith Premadasa has urged the government to implement sustainable solutions for micro, small, and medium-scale industrialists and entrepreneurs, who he says are currently confused and distressed.
Warning that from midnight today (30 June), the Parate Law will once again be enforced in Sri Lanka, allowing the rapid auctioning of properties belonging to industrialists and entrepreneurs, MP Premadasa said that, as a result, many micro, small, and medium-scale business owners are now facing the imminent loss of their assets.
Highlighting the importance of this sector, MP Premadasa emphasized that micro, small, and medium-scale enterprises contribute more than 50% to the country’s Gross Domestic Product (GDP) and provide employment to over 4 million people. He cautioned that the reimplementation of the Parate Law will significantly impact this contribution and lead to a decline in overall economic growth.
Speaking at a special media briefing today, the Opposition Leader criticized both the current and former governments, accusing them of deceiving the MSME sector by suspending the Parate Law temporarily for electoral gains but ultimately failing to deliver lasting solutions.
He stated that the auctioning of MSME properties will not only reduce GDP but also lead to increased unemployment and a drop in exports, contradicting the government’s stated goal of export promotion.
Premadasa further explained that MSMEs had called for the temporary suspension of the Parate Law and the restructuring of their debts, including the waiving of interest and bad debts. He reminded the government that these businesses have been severely affected by the Easter Sunday attacks, the COVID-19 pandemic, and the country’s economic crisis, and therefore deserve strong, compassionate support.
MP Premadasa criticized the government’s inaction, stating that a government with a two-thirds majority in Parliament and executive power through the presidency cannot simply ignore these problems. “MSMEs are looking to the government for immediate and meaningful solutions,” he said.
Calling for an end to lies and deception, MP Premadasa demanded the immediate suspension of the Parate Law for a defined period, the restructuring of debts, and the waiving of interest and bad loans. He urged the government to offer tangible relief to help these businesses recover and to put an end to the era of empty promises and confusion. (Newswire)