SJB MP Dr. Harsha De Silva Advocates for Reforms to IMF Conditions and Economic Transformation
August 08, Colombo (LNW): SJB MP Dr. Harsha De Silva addressed Parliament yesterday, asserting that conditions imposed by the International Monetary Fund (IMF) will be revised under their government.
“A structural change should be made in the agreements signed with the IMF. It can be done, and we will do it under our government,” he stated. He emphasized that measures would be taken to support local entrepreneurs and provide relief by reducing the tax burden on the people.
Dr. De Silva expressed partial agreement with the core principles of the Economic Transformation Act but voiced concerns over certain conditions agreed upon with the IMF. He stressed the necessity of economic reform to recover from the ongoing crisis.
Criticizing the current government’s increase in petrol prices from Rs.150 to Rs.400, he proposed an innovative solution: a program to credit Rs.200 to the bank accounts of individuals based on their income category after they pay Rs.400 per liter. He urged for this idea to be recorded in the Hansard before others could replicate it, clarifying that it would benefit low-income individuals, not those paying income tax.
Highlighting the importance of earning foreign currency to address the nation’s debt, Dr. De Silva announced plans to promote an export-oriented economy. He called for continued support to enhance the economic growth rate achieved in the first quarter of 2024.
Reflecting on past political events, he mentioned that his party did not abandon the country when former President Gotabaya Rajapaksa left. He explained that the then-government did not provide accurate economic data, making it difficult to address the situation effectively.
“Our goal is to distribute benefits among the people by applying new technology and improving local businesses,” he stated, emphasizing the importance of reducing the high cost of living.
Dr. De Silva criticized the government’s plan to impose an 18 percent VAT on food and stressed the need for a revised IMF agreement. He highlighted the potential of achieving 10 percent economic growth, which could make Sri Lanka a developed country by 2046, as opposed to 2075 if current trends continue. He also emphasized the role of digital technology in development and criticized market inefficiencies caused by various mafias, including the rice mafia.
“We are starting the Shakti rice campaign again to support farmers. Despite my appearance, I am committed to strengthening the farming community by providing necessary facilities and technology,” he added.
Dr. De Silva acknowledged President Ranil Wickremesinghe’s role in bringing him into politics and noted their personal camaraderie, despite differences in policies and politics. “Even at the Royal-Thomian match, we meet, drink a beer, and sing a song. There is no problem with that. But there are problems in terms of policies and politics between us,” he concluded.
