Opposition and SJB Leader Sajith Premadasa, on Friday, accused the government of bellowing rhetoric instead of practical solutions to the economic hardships facing ordinary Sri Lankans, particularly small and medium-scale entrepreneurs.
Speaking in Parliament, Premadasa warned that over 1.1 million Micro, Small, and Medium Enterprises (MSMEs)—which contribute 52% of the nation’s GDP and provide employment for around 4.5 million people—were in severe distress. He noted that more than 260,000 businesses had collapsed during the 2022 economic crisis, with another 150,000 shutting down over the past two years. The government, he said, had failed to implement an effective debt restructuring mechanism for these entrepreneurs.
Premadasa charged that temporary suspensions of the Parate Law were politically motivated and provided no real relief to struggling business owners, while debt restructuring disproportionately benefited wealthy individuals. He called for a clear National Export Policy and Export Strategy, highlighting persistent barriers facing Sri Lanka’s export sector.
Premadasa also criticised the government’s poverty alleviation measures, claiming nearly 50% of the population remained impoverished, and condemned politically-driven Praja Shakthi committees for focusing on consumption rather than sustainable production and export-led growth.
Reaffirming support for traditional industries and linking rural production to global markets, Premadasa warned that the government’s neoliberal approach imposed an unfair burden on the working class. He questioned whether Sri Lanka’s export earnings and FDI would suffice for debt repayments due in 2028, describing the current IMF agreement as flawed and cautioning against repeating the mistakes that led to the 2022 crisis.