Friday May 10, 2024
Friday May 10, 2024
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Sri Lanka United National Businesses Alliance Chairman Tanya Abesundara along with members at the media briefing yesterday – Pic by Lahiru Harshana
Sri Lanka United National Business Alliance yesterday demanded immediate action from the Government to protect the small and medium enterprises (SMEs), without ignoring the 4.5 million people engaged in the sector.
They expressed serious concerns on the adverse effects brought on its members and all sectors of the economy as a result of the worst economic crisis since independence.
“Nearly 4.5 million workers are engaged in 4,500 SMEs. If the Government neglect to come up with a plan to protect the SMEs, we will have no other option, but to get on to the streets in protest,” SLUNBA Chairperson Tanya Abesundara told journalists yesterday.
She urged the Government to extend the loan repayment timelines and to introduce a mechanism to supply uninterrupted fuel supply for the SMEs to continue the businesses.
Abesundara claimed that the Government is only concerned about providing for the public sector workers and the extra-large companies, whilst completely neglecting the SMEs.
“The Prime Minister in his inaugural address said that the Government will print more money to pay salaries for the 1.5 million State sector workers. We too provide employment to 4.5 million people, but our members have no option left to pay salaries like printing money,” she argued.
She said the Central Bank Governor also said that it was not possible to extend repayments, which have to be paid by the SMEs.
“We have come to a situation of closing down all our SMEs and bringing people to the road,” she added.
SLUNBA claimed they could no longer absorb the rising cost of production, without any relief from the Government at least to keep their businesses afloat.
“We represent the SMEs and our businesses are built on by mortgaging everything we had to secure a better future for our children and family. We are the entrepreneurs of this country that are passionate about taking a local product to the international market,” they said, adding that SMEs are the backbone of the economy.
“The Government is contemplating to print Rs. 1 trillion to pay the salaries of State sector workers and for the maintenance of the Parliamentarians. Unfortunately, they did not take any measures to protect the SME, which serves as the backbone of the economy,” Abesundara stressed.
Acknowledging that they are to be blamed for appointing insensitive people’s representatives to the Parliament, she said reshuffling portfolios mean nothing without a proper economic revival plan.
“We are of the view that the 225 parliamentarians are only concerned about themselves and not the people of this country. All they are concerned about is their damages, whilst wasting important time for blame games during Parliament sessions. Our businesses are operating with least basic facilities to keep the operations afloat, as we have a responsibility to provide for the 4.5 million people dependent on the SMEs,” she pointed out.
SLUNBA called on the 225 MPs to keep aside their politics and come up with immediate solutions to overcome the crises and ensure stability.
Vehicle Importers Association of Sri Lanka (VIASL) President Indika Sampath Merenchige said if the Government fails to come up with a revival plan within the next two or three months, all SMEs will be forced to hold back from paying the bank loan instalments.
He said the CBSL Governor had admitted that there was a risk of closing down local industries, whilst 30% of garment factories have decided to shift to foreign countries.
Noting that the country is on the brink of collapse Merenchige called on authorities to take immediate actions to avoid social unrest, unemployment and riots countrywide.
