CCC says uncertainty affecting economic and biz environment

17 April 2015 07:59 am - 1 - {{hitsCtrl.values.hits}}

A A A

Urges govt. to hold scheduled general election

The Ceylon Chamber of Commerce (CCC) yesterday urged the President and the government to end the prevailing political uncertainty by holding the general election as soon as possible, preferably keeping to the dates announced in the ‘100-day program.’
CCC said it was concerned by the diverse positions taken on the forthcoming general election by parties currently forming the coalition government.
The chamber stressed that the prevailing uncertainty impacts negatively on the economic and business environment.
“To restore confidence and attract investment, parliamentary elections must be held expeditiously,” CCC said.
While commending the government and the President for steps taken towards constitutional reforms, law and order, good governance, international relations and, reducing cost of living, CCC said the much needed long term economic policies have been put on hold pending a general election and a stable government.
“As a result, a period of uncertainty prevails over the current business climate and investors both local and foreign are adopting a cautious approach towards investing in Sri Lanka.”
According to CCC, this is unfortunate since there has been much renewed interest in the country’s economic potential post the presidential election in January of this year.

“Such interest has only been tempered by the prevailing sense of uncertainty.”
“In the event of an investment slow down, the country’s growth targets for the year are likely to be affected as are government revenue collections,” the trade chamber cautioned.
CCC also noted that while a few days delay to accommodate urgent constitutional reforms would not be viewed negatively, an attempt to postpone the general elections on fragile grounds would be seen as being contrary to the promise of good governance. CCC, a confederation of 3,500 Sri Lankan business entities from small & medium to large conglomerates—21 business councils, 21 trade associations, 22 regional, sectoral and other chambers and with affiliations to over 120 international chambers across the globe, is recognized as the country’s premier business chamber.

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 1

Rama Saturday, 18 April 2015 02:07 PM

Finance Minister under investigation, Central Bank Governer under investigation. Both are corruption charges.Bring on the Robber Barons.

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

CCC says uncertainty affecting economic and biz environment

Comments - 1

Add comment

RECOMMENDED

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Western purple-faced langurs see blue!

Most Viewed in News

Street food vendor arrested for verbally harassing foreigner

Ranil Wickremesinghe caravan moves on despite barking dogs

SL on alert on possible genocide allegations by Canada

Complaint lodged over Piumi Hansamali's possession of Gota’s Range Rover

Racing event tragedy leaves seven dead including eight-year-old child

New Visa procedure implemented

MIRROR CRICKET

TODAY'S HEADLINES