’’Islandwide trade Union action cost Sri Lanka over Rs.1 bn’’ - Economists

8 February 2023 09:43 pm - 44 - {{hitsCtrl.values.hits}}

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The country has lost an estimated revenue of Rs.1 billion due to several crucial sectors launching a protest today, inconveniencing millions of citizens and leading to roads being blocked in the business hub of Colombo, senior economists said today.

Colombo University Department of Economics Professor Priyanga Dunusinghe told Daily Mirror that more than Rs.1 billion of losses had been faced by the country today due to the massive trade union action staged by doctors and several other professionals over the government’s new income tax policy.

Priyanga said this loss at this critical juncture was a blow to Sri Lanka's development.

Another senior economist who wished to comment off the record said that such protests at a time when Sri Lanka was seeking international assistance for its debt relief sent a wrong signal to its global partners.

He said protests staged by crucial sectors cost the country billions and such losses were not feasible at the moment and also sent wrong signals to its international lenders.

"Opposing taxes is one thing but causing such a loss to the country is another. This sends a wrong message at a time when we are negotiating with our global partners for debt relief," the economist said.

Over 40 trade unions including the Government Medical Officers' Association (GMOA), Ceylon Electricity Board (CEB), University Lecturers, Sri Lanka Ports Authority (SLPA), National Water Supply and Drainage Board (NWS&DB), several banks, Sri Lanka Air Traffic Controllers Association (SLATCA) and Ceylon Petroleum Corporation (CPC) staged an island wide trade union action today to oppose the government’s new income tax policy.

The main business hub of Fort came to a standstill in the early hours of today as large groups gathered near the Fort railway station resulting in the military being called in to maintain calm.

The Trade Union Collective Centre (TUCC) told Daily Mirror that the Trade Union action had been a complete success and gave a direct message to the government on how the people would be affected by the new tax policies.

TUCC Operation Board Member Mahinda Jayasinghe said the sudden implementation of a higher PAYE Tax was unfair to the people who earned a higher salary because they had to adjust to maintain their lifestyle accordingly.

Jayasinghe said most of the professionals including doctors would be forced to migrate because of this. "They have come to a situation where they are unable to survive,"he said. (Chaturanga Pradeep Samrawickrama)

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Comments - 44

Joshua Wednesday, 08 February 2023 09:53 PM

Country as a whole gained something from these actions. You cannot value only the losses. That is looking only one side. We cannot gain anything without a sacrifice. The masses achieved it today

Tissa Fernando Wednesday, 08 February 2023 11:05 PM

I think you like it when the country looses billions.That is the way you have trained your brain. You do not understand that country cannot survive with these TU actions. Half the time they do not work their regular hours ,half the time they protest and strike.

Political crooks Thursday, 09 February 2023 06:10 AM

Better than the billions being robbed on a daily basis by the political crooks!

City Thursday, 09 February 2023 06:41 AM

Sadly mistaken. Will realise the consequences later.

Curious Wednesday, 08 February 2023 10:02 PM

Wonder, where these senior economists were when the previous Governments went on a borrowing spree.

Lank Wednesday, 08 February 2023 10:18 PM

What about the loss incurred due to corruption and fraud ..bring back all those first and then talk about this

Leo Thursday, 09 February 2023 02:59 PM

They can't bring something that is in your head.

Dee Wednesday, 08 February 2023 10:29 PM

But our wine tasting Dr. Thinks otherwise? Just like the Volkswagen project.

sugath Wednesday, 08 February 2023 10:33 PM

If people thinks that they can avoid taxes by migrating then it is only an illusion.

Be Fair Wednesday, 08 February 2023 11:02 PM

In a likewise manner if you also can quantify the waste of the Govt Sector, Politicians, then I will accept this

Cheers Wednesday, 08 February 2023 11:07 PM

These fellows are a destruction to the country with no productivity and no work get paid and it does not work that way. Let them.protest and send them home with termination

Pavan Wednesday, 08 February 2023 11:11 PM

"The Trade Union Collective Centre (TUCC) told Daily Mirror that the Trade Union action had been a complete success and gave a direct message to the government on how the people would be affected by the new tax policies." Haven't they got their priorities mixed up? You call damaging the country by Rs 1 b "a success"? It's a case of cutting your nose to spite your face.

RR Wednesday, 08 February 2023 11:27 PM

WHOSE ONUS IS IT TO PREVENT TRADE UNION ACTIONS? ISN'T IT THE GOVT S RESPONSIBILITY?

Mizaru Thursday, 09 February 2023 12:16 AM

Is that a lot of money. No, it is still way smaller than the sugar scam and the bond scam. The present president is not elected by the people and has no backing at grassroot level. The way out is to go for the general and president election and steady the ship.

Do economists not want free citizens only only slave workers Thursday, 09 February 2023 12:20 AM

Seems economists have no idea about freedoms, or citizen rights, only money, so generally their opinion should be given same weight as for slave drivers.

Ram Thursday, 09 February 2023 01:14 AM

Who is responsible for this catastrophe? Government must take full responsibility and the President and or the cabinet must be asked to reimburse the loss

doctor who Thursday, 09 February 2023 01:24 AM

what a pitty satement “ professionals and doctors unable to survive” with this new tax system. Remember when you go abroad you pay more tax . The problem with Srilankas elite group wants every thing. tax free cars, better school for thier children etc etc.. they dont even declare the private earnings for tax purposes. Now they dont want to pay tax. how can this country come out from current economic situation?? There are so many doctors and professionas from other countries ready to come and serve our coutry. Allow them to practice.

Ganesh Thursday, 09 February 2023 01:39 AM

Government servants get all the benefits and perks whilst we in the private sector pay for these. These damn TU should be abolished and banned. Our folks want everything for free and on a platter. No wonder we are begging.

David Thursday, 09 February 2023 02:23 AM

So.. It's the union actions, not the corruption that is costing the country?

Boru Show Thursday, 09 February 2023 03:09 AM

Doctors and Engineers will have to work at the bottom of the ladder when they migrate and pay taxes for every dollar earned. That is the way of life overseas my friends

S.Siva Thursday, 09 February 2023 03:12 AM

Its good to accumulate such costs and find a way of recovering them from those agitators who want to further ruin the country. Hit their pockets with the cost so that they think twice before wasting others time and money.

S.Siva Thursday, 09 February 2023 03:12 AM

Its good to accumulate such costs and find a way of recovering them from those agitators who want to further ruin the country. Hit their pockets with the cost so that they think twice before wasting others time and money.

Sam Silva Thursday, 09 February 2023 03:19 AM

There are other options to reduce government spending but not tax the citizens unfairly.

Gamini Athukorala Thursday, 09 February 2023 06:33 AM

The Ranil Rajapaksa crime syndicate cost the citizens their livelihood.

Waco Thursday, 09 February 2023 06:39 AM

No gain with out pain.

sachith Thursday, 09 February 2023 06:55 AM

Dear Professor Priyanga Dunusinghe, can you calculate how much wasted by these idiot politicians over last 14 years (after war)? Just as a regular citizen, I think its far more than this TU actions.

Wiseman Thursday, 09 February 2023 07:16 AM

As long as this govt and president these protests will continue. They need to step down immediately so that economy can recover faster.

Wixie Thursday, 09 February 2023 07:19 AM

Increases Cost ifliving

Michael T. Thursday, 09 February 2023 07:24 AM

I agree with Joshua. I'm much more interested in the cost to Sri Lankans of corrupt officials.

Lawry Thursday, 09 February 2023 07:26 AM

How much does squeezing and milking citizens slowly accumulate to??

Jude Fernando Thursday, 09 February 2023 07:28 AM

Would be interesting if this so called economist works out the losses due to mismanagement and corruption of the government and the various useless stakeholders

Suren Sarathkumara Thursday, 09 February 2023 07:34 AM

Government should sue those who plundered the economy and recover billions of dollars they stole from public. Even today the corruption is rampant. Not only trade unions - but everyone should come to the streets against Pohottywa highjacking everyone's life with 134 mps.

Jude Thursday, 09 February 2023 07:54 AM

People expressing their democratic rights!!, Because they've been the victim here!! Take my word, this Ranil LED regime won't get any bailout money from IMF !! IMF asking to implement and make some changes surely government can't do those changes!! in another words it means no IMF bailout money, yeah,!!

Jude Thursday, 09 February 2023 07:57 AM

Like RANIL led government on bended knees for IMF bailout money, the workers and unions must bring down this regime!!! Yeah!!

Premalal Perera Thursday, 09 February 2023 08:01 AM

Where was this good professor when the politicians he serves were plundering the nation for many billions.

Jude Thursday, 09 February 2023 08:02 AM

Hey Priyanga, you maybe financially well-off, but half of the population living on one meal a day!!! People had enough with the scumbag politicians!! May be you've a hidden agenda, May be you want to become the university Chancellor!!

Prosperity Thursday, 09 February 2023 09:11 AM

Todays' protest is only a Token one which is estimated to cost the country Rs.one billion. The Worse and the Night Mare is yet to come ?

Citizen k Thursday, 09 February 2023 09:48 AM

Collect the loss from Rajapakses as they are the cause of current situation and we never had a peep from you when the economy was being mishandled.

Adwani Thursday, 09 February 2023 10:48 AM

Now all the international partners know that we are real Modayas, not just Kevun Kanna Modayas.

F. M. Lafir Thursday, 09 February 2023 11:00 AM

Even senior citizens savings were taxed, even they find difficult to pay for their essential medicines not available or costlier to survive. The government is heartless but listening to IMF. So when the payout is done they rob again.

Klaus Thursday, 09 February 2023 02:54 PM

Solang der Präsident in diesem Land herrscht als im Mittelalter die Könige in Frankreich. 90 Mönche protestieren vor der Parlament Road, aber 500 bis 600 Polizei und Militär stehen da. Das kostet viel mehr. Hat der Rani so eine Angst vor 90 Mönche.

Paul Thursday, 09 February 2023 03:33 PM

Wo sind eigentlich die Auslandsvertreter, man hört nichts von ihnen. Man kann auf Einladung der Regierung mit Krankheit antworten um sich das Geschätzt nicht anzuhören. Dafür muss man aber Mut und Stiel haben.

Rosh SAMARATHUNGA Thursday, 09 February 2023 05:57 PM

General and presidential elections please thanks

Nihal Witharana Friday, 10 February 2023 10:54 AM

Good... Do you want a developed Sri Lanka or as a still developing country. We just overcome the crisis in our country because of that you are starting it again know?

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’’Islandwide trade Union action cost Sri Lanka over Rs.1 bn’’ - Economists

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