President Wickremesinghe Promises Support for Small Businesses Amid Economic Recovery
July 20, Colombo (LNW): President Ranil Wickremesinghe announced that while the government is inviting large-scale investors from both domestic and international sources to explore new investment opportunities in the rebuilding of Sri Lanka, it is also implementing a programme to support small and medium-scale businesses affected by the recent economic crisis.
The President made these remarks during a meeting with representatives of Passenger Transport Three-wheeler Associations on Thursday (18) at the Sri Lanka Exhibition and Convention Centre in Colombo.
The President stressed that the benefits of Sri Lanka’s economic progress should extend to the general public. He emphasized his commitment to this responsibility and vowed to never deviate from it, highlighting the special measures the government has taken to support this goal.
During the event, stickers were being pasted on three-wheelers as part of a new initiative. Additionally, representatives from Passenger Transport Three-wheeler Associations presented a memorandum to the President, including requests for the protection of the professional rights of three-wheeler drivers.
President Wickremesinghe further elaborated, stating, “Three-wheelers have become a crucial mode of transportation for the people. While farming continues on one side, many earn their livelihood by driving three-wheelers. In the 2022-2023 Yala season, we had a good harvest, and the subsequent Maha season also saw strong results. The 2023-2024 seasons were similarly fruitful, leading to increased income for farmers and a boost in agricultural trade.
In 2023, the arrival of foreign tourists also played a significant role. The influx of tourists strengthened the economy of three-wheeler drivers. Farmers support food production, while three-wheeler drivers contribute to transporting tourists. These two sectors have collectively helped in reviving the country’s economy.
This economic progress has been crucial in rescuing Sri Lanka from bankruptcy within two years, a remarkable achievement as no other country has recovered from bankruptcy in such a short time. We managed to secure debt relief of approximately USD 8 billion and emerged from bankruptcy.
Today, the country has achieved a level of stability, and we need to continue progressing from this point. If we do not implement the agreement with the International Monetary Fund (IMF), we risk economic collapse with no viable alternative. It is crucial for everyone to be aware of this reality.
Several suggestions have been made regarding the professional development of three-wheeler drivers. These proposals need to be implemented, and we must engage with relevant associations to ensure their successful execution. Professional regulations are necessary, and we acknowledge their importance. It is up to you to determine the best approach. We must also consider welfare aspects.
As we look to the future, particularly with the focus on electric vehicles due to climate change, we must consider the concession provided to existing vehicles. The global community is still experimenting with these technologies, and we need to align our actions with global trends.
To advance the country’s economy, we need both local and foreign investors. This will not only create more employment opportunities but also boost exports. As we focus on economic development, we must remember those who suffered during the last crisis. My primary goal is to ensure that the benefits of this economic progress reach the general public.
We have implemented the Aswasuma programme, tripling the funds allocated for welfare benefits and increasing the number of beneficiaries. During the last New Year season, we provided 10 kilograms of rice for two months. The Urumaya programme was introduced to grant freehold land rights, and arrangements were made to transfer ownership of flats in urban areas to the residents. Additionally, we are planning to establish plantation villages. These efforts are all aimed at improving the lives of ordinary citizens.
We are inviting large-scale investors, both domestic and international, to invest in the country. Simultaneously, we have introduced measures to support the general public, including small and medium businesses affected by the previous economic crisis.
Three-wheel drivers are also a priority as we advance the economy. We must consider the consequences of disrupting this economic system or violating lending conditions. We have reached a crucial point. To ensure continued progress, we must adhere to the International Monetary Fund’s programme, and I urge everyone to recognize this necessity.”
Former Finance Minister Ravi Karunanayake noted that as the country makes positive strides, professional drivers have come together to form several new transport associations by merging existing ones, aiming to advance the country under a unified economic policy. He recalled the dark times of long queues and the challenges faced during President Wickremesinghe’s early days in office, emphasizing the current positive direction of the country.
Sampath Ranasinghe, Chairman of the Joint Transport Society Centre, highlighted the severe disruptions faced by the transport sector during the COVID-19 pandemic and subsequent fuel shortages. He praised the methodical approach of President Wickremesinghe in advancing the country’s economy post-crisis.
Secretary of the International Chamber of Commerce, Hemakumara Gunasekara, emphasized the significance of the President meeting with professional three-wheeler drivers, recognizing their vital role in society and the importance of addressing their issues through established associations.
The event was attended by Member of Parliament Premanath C. Dolawatta, Patron of the United Three-wheeler Drivers and Owners Association Mahinda Kahandagama, Rahuman Palli, Chairman of the United Passenger Transport Three-wheeler Drivers Association, and representatives from various transport associations and three-wheeler drivers.
