“Step up”: President tells private sector

President Anura Kumara Dissanayake sharing his perspectives during a fireside chat with CCC Deputy Vice Chairman Bingumal Thewarathanthri at the inauguration of the SL Economic Summit 

• Says private sector must also embrace change if they want change from govt.
• Calls for change in attitude
• Questions why public sector remains more attractive than the private sector
• Highlights need to review existing preferential trade agreements to understand why they have not delivered the expected outcomes

By Shabiya Ali Ahlam and 
Nuzla Rizkiya

President Anura Kumara Dissanayake delivered a strong message to Sri Lanka’s private sector yesterday, urging them to step up and play their part in uplifting the national economy, rather than leaving the entire burden of transformation on the government.

Speaking to senior private sector representatives at the Sri Lanka Economic Summit last evening, Dissanayake stated that if change is expected from the government, the private sector must also embrace change to unlock the country’s economic potential.

“The private sector has a big role to play in developing the economy. You expect this change from the government alone. It could come with a change in attitude. Community-wise, we need to see change.

“You are the engine of growth for the economy. My request is to contribute towards building this country,” the President told the packed audience at the Summit, organised by the Ceylon Chamber of Commerce under the theme ‘Shaping Sri Lanka’s Future: Transformational Growth Rooted in Sound Economic Policies.’
“The economy’s future lies in your hands. You have the power, the knowledge, and the attitudes to make a difference,” he asserted.

Dissanayake shared his perspectives during a fireside chat with CCC Deputy Vice Chairman Bingumal Thewarathanthri at the inauguration of the Summit.

He also pointed out that while the public sector is bloated and costly to maintain, it is still not seen as a burden. However, he questioned why it remains more attractive than the private sector.

“The Director General of the Customs Department shared that many private sector professionals apply for openings in the department. Is it due to job security or other factors? Despite the large public sector workforce, there is still a shortage of skilled middle-level professionals like accountants or officers for departments such as the Inland Revenue Department (IRD).

“We need a dialogue to address why the private sector isn’t as attractive as the public sector and what can be done to bridge this gap,” he said.

While Sri Lanka seeks to fast-track growth, the President emphasised that one of the government’s main objectives is to eradicate rural poverty.

To achieve this, he noted, further efforts are needed to create new economic opportunities for rural populations, who currently have limited options and rely heavily on paddy fields, cultivation, reservoirs, and minimal economic activities.

“Our objective is to create an economic renaissance for them. They should actively participate in the economy; only then can they benefit from it.

“For this, I personally invite you to expand your investments. Decentralising the economy and funneling opportunities to lower-income groups will enhance their purchasing power, which in turn will improve the economic flow,” he said.

On expanding Sri Lanka’s international market share, Dissanayake highlighted the need to review existing preferential trade agreements, particularly with India, to understand why they have not delivered the expected outcomes.

He acknowledged India as a large and fast-growing economy, with its geographic proximity making it a strong potential market.

“However, we need a clear strategy to enter this market. It’s not about who signed it (FTA). It is about how and why the agreement was implemented, and whether it brought benefits or challenges to us. We need to understand these factors clearly before moving forward with new agreements. Once we have clarity, we can proceed confidently,” he said.

Commenting on BRICS, Dissanayake observed that the global landscape does not entirely align with statements made by some leaders. He emphasised the need to balance expectations with practicality and reality in the international arena.

Reflecting on his experience leading the government, Dissanayake said the National People’s Power (NPP) is “happy” to be a group that had not held power before.

“We faced a lot of scepticism from investors, international communities, and even certain local populations. We are happy that this scepticism has now ended. People trust us and have faith in us, and that is the biggest achievement so far,” he said.