Features
MSME sector development vital for achieving sustainable development
Insights during Covid-19 situation
(Continued from yesterday)
By Dr. Tissa Ravinda Perera
Faculty of Management & Finance
University of Colombo
Email: ravinda@mos.cmb.ac.lk
Main problems faced by Sri Lankan MSMEs at present
The MSMEs cannot get even short-term credit facilities because the banks or financial institutions ask for securities. The use of traditional technology in some sectors of MSMEs is really a problem faced by them. The cost of production is also very high for the MSMEs in comparison to that of large scale businesses or the cost of imports. These businesses use mainly traditional types of skilled labour and they do not have technology based proper training. These businesses use lower level of expertise knowledge and scientific machineries, therefore the quality of the products are also low. It is difficult for these businesses to compete with large scale businesses since they are weak in many areas. The MSMEs have a lower production quantity and limited market, too. Hence, their turnover and income are also low and it may lead to failure, too. This is a serious issue faced by the MSMEs. In most of the MSMEs, the marketer, owner and manager are the same. Therefore, the business could face managerial problems in the short run and bankruptcy in the long run
Global trends in MSME Sector
The use of information technology, telecommunication, low cost and attractive products and service are some of the features of the modern MSMEs. The modern MSMEs also use social and digital media to attract customers and sell their products. They prefer online service to offline service.
Therefore, it is evident that the modern MSMEs are ICT-based and web-based businesses. They also prefer using credit and debit cards as the mode of receiving money than using hard currencies. The search engines, like Google and Yahoo have entered their day-to-day language. These things have also affected the Sri Lankan MSMEs.
Why MSME Sector need to be promoted in Sri Lanka?
There are numerous reasons why MSMEs should be promoted in Sri Lanka, the main being that they can be started with a lower capital. Therefore, it is very important for the country to look into this matter and help the MSME sector.
Sri Lanka has a relatively higher unemployment rate of 4.18%. This could be reduced by promoting MSMEs because the majority of them are mainly labour intensive. There is a trend in Sri Lanka that people migrate from villages to cities. This can be reduced with the help of MSMEs.
There is no need for expertise managerial skills for MSMEs to manage their affairs. Therefore, it is easy to start and run the business in any area.
There is a regional demand for many products and services. It is evident that many products and services are delivered from Colombo or cities to villages. This could be reversed if the country promotes MSMEs at the regional level.
Sustainable Development through SME Sector Development
The Sri Lankan MSME sector grows at 2.9% and it is very low compared to the global growth rate of 5.2%.
Therefore, the country must pay more attention to the development of the MSME sector due to many reasons. Sustainable development could achieved through the MSME sector. The present government should launch a programme like Enterprise if Sri Lanka is to develop the MSME sector.
The current situation is the best time for the government to initiate this change since this is the time where the MSME sector needs more support and the country needs more contribution from them..
Features
Acid test emerges for US-EU ties
European Commission President Ursula von der Leyen addressing the World Economic Forum in Davos, Switzerland on Tuesday put forward the EU’s viewpoint on current questions in international politics with a clarity, coherence and eloquence that was noteworthy. Essentially, she aimed to leave no one in doubt that a ‘new form of European independence’ had emerged and that European solidarity was at a peak.
These comments emerge against the backdrop of speculation in some international quarters that the Post-World War Two global political and economic order is unraveling. For example, if there was a general tacit presumption that US- Western European ties in particular were more or less rock-solid, that proposition apparently could no longer be taken for granted.
For instance, while US President Donald Trump is on record that he would bring Greenland under US administrative control even by using force against any opposition, if necessary, the EU Commission President was forthright that the EU stood for Greenland’s continued sovereignty and independence.
In fact at the time of writing, small military contingents from France, Germany, Sweden, Norway and the Netherlands are reportedly already in Greenland’s capital of Nook for what are described as limited reconnaissance operations. Such moves acquire added importance in view of a further comment by von der Leyen to the effect that the EU would be acting ‘in full solidarity with Greenland and Denmark’; the latter being the current governing entity of Greenland.
It is also of note that the EU Commission President went on to say that the ‘EU has an unwavering commitment to UK’s independence.’ The immediate backdrop to this observation was a UK decision to hand over administrative control over the strategically important Indian Ocean island of Diego Garcia to Mauritius in the face of opposition by the Trump administration. That is, European unity in the face of present controversial moves by the US with regard to Greenland and other matters of contention is an unshakable ‘given’.
It is probably the fact that some prominent EU members, who also hold membership of NATO, are firmly behind the EU in its current stand-offs with the US that is prompting the view that the Post-World War Two order is beginning to unravel. This is, however, a matter for the future. It will be in the interests of the contending quarters concerned and probably the world to ensure that the present tensions do not degenerate into an armed confrontation which would have implications for world peace.
However, it is quite some time since the Post-World War Two order began to face challenges. Observers need to take their minds back to the Balkan crisis and the subsequent US invasions of Afghanistan and Iraq in the immediate Post-Cold War years, for example, to trace the basic historic contours of how the challenges emerged. In the above developments the seeds of global ‘disorder’ were sown.
Such ‘disorder’ was further aggravated by the Russian invasion of Ukraine four years ago. Now it may seem that the world is reaping the proverbial whirlwind. It is relevant to also note that the EU Commission President was on record as pledging to extend material and financial support to Ukraine in its travails.
Currently, the international law and order situation is such that sections of the world cannot be faulted for seeing the Post World War Two international order as relentlessly unraveling, as it were. It will be in the interests of all concerned for negotiated solutions to be found to these global tangles. In fact von der Leyen has committed the EU to finding diplomatic solutions to the issues at hand, including the US-inspired tariff-related squabbles.
Given the apparent helplessness of the UN system, a pre-World War Two situation seems to be unfolding, with those states wielding the most armed might trying to mould international power relations in their favour. In the lead-up to the Second World War, the Hitlerian regime in Germany invaded unopposed one Eastern European country after another as the League of Nations stood idly by. World War Two was the result of the Allied Powers finally jerking themselves out of their complacency and taking on Germany and its allies in a full-blown world war.
However, unlike in the late thirties of the last century, the seeming number one aggressor, which is the US this time around, is not going unchallenged. The EU which has within its fold the foremost of Western democracies has done well to indicate to the US that its power games in Europe are not going unmonitored and unchecked. If the US’ designs to take control of Greenland and Denmark, for instance, are not defeated the world could very well be having on its hands, sooner rather than later, a pre-World War Two type situation.
Ironically, it is the ‘World’s Mightiest Democracy’ which is today allowing itself to be seen as the prime aggressor in the present round of global tensions. In the current confrontations, democratic opinion the world over is obliged to back the EU, since it has emerged as the principal opponent of the US, which is allowing itself to be seen as a fascist power.
Hopefully sane counsel would prevail among the chief antagonists in the present standoff growing, once again, out of uncontainable territorial ambitions. The EU is obliged to lead from the front in resolving the current crisis by diplomatic means since a region-wide armed conflict, for instance, could lead to unbearable ill-consequences for the world.
It does not follow that the UN has no role to play currently. Given the existing power realities within the UN Security Council, the UN cannot be faulted for coming to be seen as helpless in the face of the present tensions. However, it will need to continue with and build on its worldwide development activities since the global South in particular needs them very badly.
The UN needs to strive in the latter directions more than ever before since multi-billionaires are now in the seats of power in the principle state of the global North, the US. As the charity Oxfam has pointed out, such financially all-powerful persons and allied institutions are multiplying virtually incalculably. It follows from these realities that the poor of the world would suffer continuous neglect. The UN would need to redouble its efforts to help these needy sections before widespread poverty leads to hemispheric discontent.
Features
Brighten up your skin …
Hi! This week I’ve come up with tips to brighten up your skin.
* Turmeric and Yoghurt Face Pack:
You will need 01 teaspoon of turmeric powder and 02 tablespoons of fresh yoghurt.
Mix the turmeric and yoghurt into a smooth paste and apply evenly on clean skin. Leave it for 15–20 minutes and then rinse with lukewarm water
Benefits:
Reduces pigmentation, brightens dull skin and fights acne-causing bacteria.
* Lemon and Honey Glow Pack:
Mix 01teaspoon lemon juice and 01 tablespoon honey and apply it gently to the face. Leave for 10–15 minutes and then wash off with cool water.
Benefits:
Lightens dark spots, improves skin tone and deeply moisturises. By the way, use only 01–02 times a week and avoid sun exposure after use.
* Aloe Vera Gel Treatment:
All you need is fresh aloe vera gel which you can extract from an aloe leaf. Apply a thin layer, before bedtime, leave it overnight, and then wash face in the morning.
Benefits:
Repairs damaged skin, lightens pigmentation and adds natural glow.
* Rice Flour and Milk Scrub:
You will need 01 tablespoon rice flour and 02 tablespoons fresh milk.
Mix the rice flour and milk into a thick paste and then massage gently in circular motions. Leave for 10 minutes and then rinse with water.
Benefits:
Removes dead skin cells, improves complexion, and smoothens skin.
* Tomato Pulp Mask:
Apply the tomato pulp directly, leave for 15 minutes, and then rinse with cool water
Benefits:
Controls excess oil, reduces tan, and brightens skin naturally.
Features
Shooting for the stars …
That’s precisely what 25-year-old Hansana Balasuriya has in mind – shooting for the stars – when she was selected to represent Sri Lanka on the international stage at Miss Intercontinental 2025, in Sahl Hasheesh, Egypt.
The grand finale is next Thursday, 29th January, and Hansana is all geared up to make her presence felt in a big way.
Her journey is a testament to her fearless spirit and multifaceted talents … yes, her life is a whirlwind of passion, purpose, and pageantry.
Raised in a family of water babies (Director of The Deep End and Glory Swim Shop), Hansana’s love affair with swimming began in childhood and then she branched out to master the “art of 8 limbs” as a Muay Thai fighter, nailed Karate and Kickboxing (3-time black belt holder), and even threw herself into athletics (literally!), especially throwing events, and netball, as well.
A proud Bishop’s College alumna, Hansana’s leadership skills also shone bright as Senior Choir Leader.
She earned a BA (Hons) in Business Administration from Esoft Metropolitan University, and then the world became her playground.
Before long, modelling and pageantry also came into her scene.
She says she took to part-time modelling, as a hobby, and that led to pageants, grabbing 2nd Runner-up titles at Miss Nature Queen and Miss World Sri Lanka 2025.
When she’s not ruling the stage, or pool, Hansana’s belting tunes with Soul Sounds, Sri Lanka’s largest female ensemble.
What’s more, her artistry extends to drawing, and she loves hitting the open road for long drives, she says.
This water warrior is also on a mission – as Founder of Wave of Safety,
Hansana happens to be the youngest Executive Committee Member of the Sri Lanka Aquatic Sports Union (SLASU) and, as founder of Wave of Safety, she’s spreading water safety awareness and saving lives.
Today is Hansana’s ninth day in Egypt and the itinerary for today, says National Director for Sri Lanka, Brian Kerkoven, is ‘Jeep Safari and Sunset at the Desert.’
And … the all-important day at Miss Intercontinental 2025 is next Thursday, 29th January.
Well, good luck to Hansana.
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