Marikkar blames Govt.’s insensitivity and mismanagement for crises in country

Saturday, 21 August 2021 01:53 - - {{hitsCtrl.values.hits}}

SJB MP S. M. Marikkar

Main Opposition Samagi Jana Balawegaya (SJB) Parliam-entarian S. M. Marikkar yesterday blamed the Gover-nment’s insensitivity and mismanagement for the health and economic crises in the country.

At a media briefing yesterday, Marikkar argued that the Government is the people’s servant and the custodian of the country for a set period of time. “However, despite rising COVID deaths and cases, they refused to impose a lockdown much earlier as urged by all,” he added.

The SJB MP also scoffed at the Government’s excuse for not going for a lockdown, in which they cited the impact on the economy and daily wage earners. “Firstly, this Government soon after coming to power gave generous tax cuts benefiting the rich. Billions in revenue to the State was foregone by this move. The Government could cushion the COVID impact on the economy by recouping lost revenue arising from the tax cut. Another reason is the so-called impact on the daily wage earners.

If the Government is keen to safeguard their interests, then Rs. 5,000 per seven million daily wage earners or their families would cost only Rs. 35 billion. This is insignificant in comparison to the billions of rupees lost due to tax cuts favouring the rich,” Marikkar said.

While blaming the Government for excessive money printing, which he estimated was over Rs. 800 billion, the SJB MP said the current dollar crisis and the COVID pandemic were not related.

“The foreign exchange shortage and the crisis in the domestic economy was caused by the Government and its policies. There has been sheer mismanagement of reserves and Government revenue and expenditure,” Marikkar emphasised.

He said that importers had been forced to buy dollars at exorbitant rates in the black market to clear goods from the Colombo Port.

The fate of Sri Lanka in being unable to draw foreign direct investments (FDIs) was also highlighted by Marrikar. “We are not getting enough FDIs due to lack of confidence and inconsistent policies. To come to power, the Rajapaksas claimed political stability was key to attracting FDIs. However, despite having a two-thirds majority, we don’t see FDIs. What Sri Lanka needs is a state of good governance to boost foreign investor and business confidence,” he pointed out.

He also warned that Sri Lanka was facing the risk of losing the GSP+ concession from the EU – Sri Lanka’s biggest export region – due to multiple issues and failures on the part of the Government in ensuring good governance.

The SJB MP also described the proposed tax amnesty bill as aimed at helping cronies of the Government.

“Sri Lanka is faced with a massive foreign debt servicing challenge. The Government should go for a rescheduling of the debt initiative. Can’t the Government even get a rescheduling done with China, which is its biggest and closest friend?” queried Marikkar.

“It appears the Government is not keen on pursuing alternatives. The Government must make decisions in the national interest and not based on politics or personal egos.”