Thursday May 28, 2026
Thursday May 28, 2026
Thursday, 28 May 2026 06:17 - - {{hitsCtrl.values.hits}}
The Sri Lanka United Business Alliance (SLUBA), a collective representing local entrepreneurs, yesterday accused the Government of misleading the business community despite its earlier pledges to protect domestic industries and strengthen entrepreneurship.
Addressing a media briefing in Colombo, SLUBA President Tania Abeysundara said local entrepreneurs had been repeatedly let down by successive governments, including the current National People’s Power (NPP) Government.
“As entrepreneurs, we have contributed significantly to the economy, yet we have been deceived by every Government, including the NPP Government,” she said.
Abeysundara claimed that uncertainty surrounding the dollar crisis and the absence of clear policy direction had placed businesses under severe pressure.
“We have now fallen from the frying pan into the fire due to the lack of proper policy directives. As entrepreneurs, we have come together because we want to move forward while protecting local businesses and industries,” she added.
She further alleged that Government policies were pushing businesses into distress while failing to provide adequate protection to domestic industries.
“The Government has taken decisions that are destroying entrepreneurship in the country. We ask why local industries are being suppressed,” Abeysundara stressed.
She also criticised policies aimed at strengthening the US dollar through higher interest rates, questioning the broader impact on local businesses and imports.
Meanwhile, SLUBA Member Mahendra Jayasekara warned that despite claims by some experts that the economy was stabilising, there were clear indications of a looming economic crisis.
“This Government behaves as though it does not require the contribution of local entrepreneurs. However, I urge the authorities to listen to local entrepreneurs when formulating economic policies,” he said.
Jayasekara cautioned that economic conditions would deteriorate further if decisions were implemented based on advice from individuals lacking practical economic understanding.
He also said that it would get worse if the Government dances according to the tune of international financial institutions, including the International Monetary Fund (IMF), World Bank, and Asian Development Bank (ADB).
“If the Government continues to manage the economy in this manner, Sri Lanka risks becoming a bankrupt nation once again,” Jayasekara warned.
