Opposition Leader Sajith Premadasa today accused the Government of merely presenting arguments without offering practical solutions to the hardships faced by the people, particularly small and medium-scale entrepreneurs.
Addressing Parliament, Premadasa said over 1.1 million Micro, Small and Medium Enterprises (MSMEs), which contribute 52% to the country’s GDP and provide livelihoods to around 4.5 million people, are facing a severe crisis. He noted that more than 260,000 businesses collapsed during the 2022 economic downturn, with another 150,000 shutting down in the past two years. Despite this, he said the Government has failed to implement a proper debt restructuring mechanism for these entrepreneurs.
He charged that while the Parate Law was temporarily suspended for political gain on two occasions, no meaningful relief was provided to struggling business owners, while debt restructuring was instead used to protect wealthy individuals, placing a heavier burden on ordinary citizens.
Premadasa called on the Government to present a clear National Export Policy and Export Strategy, stating that Sri Lanka’s export sector continues to face serious barriers. He stressed that MSMEs, which were promised strong support during election campaigns, have now been neglected, and their expectations betrayed.
He further criticised the Government’s poverty alleviation approach, stating that the Aswesuma programme cannot eradicate poverty, which he claimed now affects nearly 50% of the population. Instead, he said the administration relies on politically-driven “Praja Shakthi” committees dominated by JVP members, which focus on consumption rather than sustainable production and export-driven growth.
Premadasa also highlighted alleged large-scale fraud involving a foreign employment agency registered under the Sri Lanka Bureau of Foreign Employment. He said the Mahara ‘Rainbow’ agency had collected between Rs. 850,000 and Rs. 1.85 million from around 500 individuals promising jobs in Romania, allegedly defrauding nearly Rs. 74 million. He claimed that despite CID action, the Bureau’s legal division has failed to take decisive steps, adding that the SJB has provided free legal assistance to victims.
The Opposition Leader reaffirmed support for developing traditional industries and connecting rural production to international markets, while warning that the current Government is pursuing a new neoliberal path that places an unfair burden on the working class.
He also questioned whether Sri Lanka’s export earnings and foreign direct investment would be sufficient to meet debt repayments due in 2028, warning against repeating the conditions that led to the 2022 crisis, and described the current IMF agreement as flawed. (Newswire)