FCCISL expresses concern over current crisis; lists 5 proposals for urgent action by Govt.

The most widespread private sector lobby group, Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) yesterday expressed concern over the current crisis and listed five proposals for urgent action by the Government. 

In a statement FCCISL called for an end to violence, urgent resolution of the shortage of power and energy and appealed to the nation to unite  and face the challenge.

Following is the full statement.

FCCISL is highly concerned about the mass unrest and certain violent activities that took place last  week. FCCISL is of the view that these new developments would not help the country solve any of the issues faced by the business community and instead it will further aggravate the degenerating economic environment causing further loss of business confidence, investor interest, export income, productivity etc. 

Even though we saw the revival of inbound tourism by the end of 2021, the travel advice (high risk – caution) already issued for travellers to Sri Lanka by several countries again indicates a bleak future for us. 

FCCISL has received a record number of enquiries from its corresponding overseas chambers specially on issues related to sectors such as energy, food security, logistics etc. 

FCCISL said it also received hundreds of complaints from its membership across the country on following matters.

(a) The acute shortage of diesel to run their factories both for exports and for local production 

(b) Transportation of goods is disrupted for hours since the transport fleet of logistic providers is waiting in the queue at fuel stations  

(c) Shortage of containers and high freight cost 

(d) Inability to clear containers at the port due to foreign currency constraints at banks 

(e) Non-availability and high cost of raw materials 

In the circumstances as a matter of urgency and significance, FCCISL also listed the following proposals for consideration by the Government.

(1) If the shortage of fuel is expected to continue in the future too, it is prudent to draft a more realistic date plan regarding the distribution of fuel (specially diesel) to industries islandwide and inform industrialists through trade chambers and divisional secretariats 

(2) We request the Government to develop a mechanism to ensure uninterrupted fuel supply  to logistics operators

(3) We request the Government to set up 24-hour hotlines handled by responsible officers at ministries covering major sectors to receive enquiries/complaints 

(4) We request the Government to give the first priority to procure products and services wherever possible from SME;s in the country and to pay suppliers on time. We also propose to establish a procurement charter for SMEs at Government agencies 

(5) Government has to issue a well-structured and realistic recovery plan for the country and to appoint competent professionals to execute for better results. The same plan can be disseminated to the Sri Lankan business community and to world capitals through Sri Lankan missions abroad to instil confidence in international markets. 

Finally, FCCISL would like to request the nation to shed differences of opinion and support such a well-structured and realistic recovery plan to rebuild the economy.

CA Sri Lanka urges all parties to unite to resolve crisis

The CA Sri Lanka yesterday in a statement urged all political parties to unite to resolve the severe economic crisis. 

“We call upon the Government, the main opposition party, and all other political parties to unite and to immediately provide a resolution to the current economic and financial crisis faced by the country in the best interest of the country,” the CA said. 



Following is the full text of the statement. 

At CA Sri Lanka, we take immense pride in our standing as a national body with a global outlook. The professionals of CA Sri Lanka have been an integral part of the economic growth and progress of the country, spanning over a period of 63 years.

At CA Sri Lanka, we respect the rights of the citizens to hold peaceful demonstrations and have their voices heard by the Government.

We also urge the masses to remain non-violent during their protests, as the violence will not achieve democratic ideals, nor will it promote economic growth.

As a responsible professional body, CA Sri Lanka is deeply concerned about the current situation which has engulfed our entire nation. 

We urge the Government, in consultation with all political parties, to formulate a plan, including engagement with the International Monetary Fund (IMF). 

This, in our opinion, must be the priority while we look at addressing the concerns raised by the public.

All political parties in this country should come to a consensus and urgently appoint a team to negotiate with the IMF, thereby ensuring that we do not delay this most crucial process.

Therefore, we call upon the Government, the main opposition party, and all other political parties to unite and immediately provide a resolution to the current economic and financial crisis faced by the country in the best interest of the country.

As a national body of professionals, we are ready to offer our services and support as required to assist the country in formulating the required plans and processes to mitigate the effects of the current economic and financial crisis.