Private sector is performing well: Survey

The latest monthly poll conducted by research firm Kantar TNS, for business magazine LMD, reveals that a notable majority (78%) of the people believe Sri Lanka’s private sector is performing well.

Respondents say that this is a reflection of the business community working ‘efficiently in accordance with standards.’

However, only three in 10 of those surveyed feel that our corporates are world-class, citing the ‘famous businesses that are well known.’ Those who disagree (44%) point to Sri Lanka being ‘a small and developing country,’ as well as the nation’s ‘lack of technical standards.’

Only 39% of respondents believe that corporates treat the workforce fairy, mainly on the grounds that they pay ‘reasonable salaries’ in addition to offering ‘allowances, bonuses and privileges.’ 

Just over 25% oppose this view and a further 35% say they’re unsure.

Less than 40% of the sample population are of the view that businesses act in the national interest with a little over a third saying otherwise – they feel that corporates ‘think of the market and not the country.’ 

Citizens point to enhancing quality standards, increasing wages and salaries, upgrading working conditions, improving financial performance, reducing bribery and corruption, and playing a role in nation building as areas in which the private sector could improve.

LMD’s publisher, Media Services, says the November edition of the pioneering business magazine has been released to leading supermarkets and bookstores in Colombo and the outstations. 

Its Cover Story features LMD’s eighth edition of Sri Lanka’s leading corporate personalities (for the full story, log onto www.LMD.lk).