President Ranil Wickremesinghe says he has the backing of a majority of the minority community in Sri Lanka.
The President noted that some leaders of minority political parties may prioritize other presidential candidates.
Commenting on the support from minority communities, President Wickremesinghe said, however, he has the backing of the majority within those communities.
The President further expressed his pride in witnessing a Presidential Election centred on the economy, steering away from issues of race, religion, or caste.
He emphasized that alongside economic reforms, the nation’s social systems must also undergo significant transformation to sustain progress.
President Ranil Wickremesinghe made the remarks while speaking at the “Ask Me Anything” special programme organized by the Professionals’ Forum Colombo on Monday (Sep 02).
President Ranil Wickremesinghe’s full statement :
“Today, with the backing of institutions like the IMF, ADB, World Bank, Exim Bank of China, and the 17 OCC nations, we’ve agreed on debt sustainability, debt relief, and a path forward until 2032. The question now is whether we continue or abandon this path. These benchmarks on government revenue and expenditure cannot be altered. Although tax adjustments can be made, the overall benchmarks must be met. The other parties propose lowering taxes and duties without providing alternative income sources, reducing revenue while increasing expenditure through welfare measures. Are we prepared to repeat past mistakes, as in 2019 when tax cuts led to reduced revenue and excessive handouts, resulting in economic difficulties by 2022?
We must decide if we want to avoid a return to that path. I won’t delve into policy details, but you now have an agreement that provides USD 3 billion from the IMF through next year and a debt repayment space until 2040-2042, along with USD 10 billion in interest relief. This is what we have at hand—are we going to squander it? Our country needs a transformation, not irrational change. To overcome this crisis, we can aim for stability by 2042, but if we don’t transform into an export-oriented economy sooner, another crisis could arise between 2035 and 2040, as we’ll continue to accumulate debt.
However, by evolving into a competitive export-oriented, digital, and green economy, we can achieve a surplus and move towards economic transformation. We have significant assets, like land, and with an expected global population increase of 2 billion by mid-century, we should modernize our agriculture to feed this market. Tourism should also be expanded from 2.5 million to 5 million visitors, with a per capita increase from USD 150 to USD 400. Further, transforming into a digital economy and training our workforce to handle semi-automated manufacturing will help sustain income flow and allow us to decide how to utilize our resources.
Economic transformation is one aspect, but social transformation is equally critical. Our multi-dimensional poverty affects 25% of the population, and we’ve pledged to reduce this to 10%, addressing health, education, and social care inadequacies. In line with the Article 27.(2)(f) of our constitution’s, we’re committed to dispersing ownership rather than concentrating it within the state or a few businesses, with plans to grant freehold rights to 2 million permit holders and provide 250,000 freehold apartments for lowincome families.
In the plantations, we’ll replace traditional agriculture with agro-businesses, offering ownership to those currently living in line rooms. We’re also exploring investment opportunities for employment provident funds and trust funds in sectors beyond bonds and debentures, engaging trade unions and employers in the process. Our National Wealth Fund, a cooperative, is set to provide concessional funding for low-income families to buy apartments, continuing the spread of ownership. More remains to be done, particularly for women, who are underrepresented despite being the majority. We’ve enacted the Women’s Empowerment Act, which will apply across public and private sectors over the next few years.
We are also considering the establishment of a Social Justice Commission to address lingering feudal elements such as caste and race. As President, I am proud to oversee an election process where economic concerns transcend race, religion, or caste—all of our pockets have been impacted equally. This is a time for us to unite, address social disparities, and tackle issues like childcare and domestic violence. We’ve introduced women’s and children’s desks at every police station, but further measures are necessary.
Lastly, our political system requires transformation. The collapse of our economic system has similarly impacted the political framework that supported it. When other parties revert to outdated economic models, it’s like witnessing the dead attempting to rise again. This can’t continue; our political parties must evolve into stable entities governed by uniform laws, as seen in Germany or other European countries. Anticorruption efforts are also essential; although there’s much discussion around it, effective measures are needed. We’ve requested the IMF’s guidance on an anticorruption agenda, which includes new legislation like the Anti-Corruption Law and Proceeds of Crime Bill.
It is also essential to take decisive action against corruption. While some have displayed around 400 files related to corruption and spoken at length about it, they only found 15 people to prosecute and nothing else. Although many talk about tackling corruption, effective measures are what truly matter. Since I assumed office, we have sought the support of the International Monetary Fund to address this issue. We are now implementing an anti-corruption agenda, which includes new legislation such as the Anti-Corruption Act and the Proceeds of Crime Bill.
MPs must be accountable to the House, and proposed changes, including the Parliamentary Standards Bill similar to the UK model, will help ensure that. So let’s transform the political and social systems alongside the economy. This comprehensive transformation will secure a brighter, more stable future for younger generations. I often reflect on the 1991 conversation with the Vietnamese Industry Minister about attracting foreign investment. If we don’t adapt quickly, we might find ourselves seeking his advice on national development. I appreciate your attention today and encourage you to keep these thoughts in mind as we approach September 21st.” (Newswire)
