Ceylon Chamber calls on all political parties to support continuity of SOE reforms

The Ceylon Chamber of Commerce calls on all political parties to support the continuity of SOE reforms and the reform momentum, building on the economic stability achieved. The Chamber stresses that it is vital to prioritise and implement the reforms related to State-Owned Enterprises (SOEs), energy, and fiscal management, to ensure that the country does not revert to a crisis. It is crucial that all political parties focus on Sri Lanka’s long-term sustainability and avoid leveraging the reform process for short term election gains.

SOE reforms will enhance the government’s fiscal outlook through better performance, productivity and accountability. Historically, inefficiencies and a lack of accountability in SOEs have led to significant financial burdens on the government, contributing to economic crises and the misallocation of resources. The Chamber highlights the importance of implementing market-based pricing and enhancing accountability within SOEs to prevent corruption and inefficiency. Effective reforms will ensure these enterprises are sustainable and competitive in the long run, reducing the risk of future economic turbulence.

The Chamber calls on all political parties to constructively support these vital initiatives. Clear communication and public understanding are crucial to the success of these reforms. The Ceylon Chamber of Commerce states that it remains committed to advocating policies that promote economic stability and growth, fostering a prosperous future for Sri Lanka.