Ceylon Chamber calls on all MPs to enact constitutional amendments

 Hold polls fast urges Ceylon Chamber

• Warns prevailing uncertainty negatively impacts economic and business environment
• Says to restore confidence and attract investment parliamentary elections must be held expeditiously

The Ceylon Chamber of Commerce, the country’s premier private sector lobby, has urged the conduct of general elections as soon as possible to restore business confidence as prevailing uncertainty was highly detrimental.
In a special statement, the Chamber said it noted and appreciated the many positive steps taken by the President and Government to deal with pressing issues pertaining to constitutional reforms, law and order, independence of the Judiciary and the media, good governance, cost of living and international relations.

 
“However, the Chamber also notes – in this instance with concern – the diverse positions taken on the forthcoming general election by parties currently forming the coalition government. In the meantime, pending a general election and a stable Government being elected, the formulation and implementation of medium- and long-term economic policies have been put on hold. As a result, a period of uncertainty prevails over the current business climate and investors both local and foreign are adopting a cautious approach towards investing in Sri Lanka. This is unfortunate since there has been much renewed interest in the country’s economic potential following the presidential election in January of this year. Such interest has only been tempered by the prevailing sense of uncertainty. In the event of an investment slowdown, the country’s growth targets for the year are likely to be affected as are government revenue collections,” the statement read.

 
“We also note that the 100-day program which formed an integral part of the election manifesto of President Maithripala Sirisena – to which the coalition partners pledged support -clearly stipulates that Parliament will be dissolved on 23 April 2015 and a general election called thereafter. While a few days delay to accommodate urgent constitutional reforms will not be viewed negatively, an attempt to postpone the general elections on fragile grounds will be seen as being contrary to the promise of good governance.

 
“Considering the above and with special emphasis on the impact of uncertainty on the country’s economic and business environment, the Ceylon Chamber of Commerce urges the President and Government to call a general election at the earliest possible opportunity preferably keeping to the dates announced in the 100-day program,” the Chamber stated.
The Ceylon Chamber of Commerce is a confederation of 3,500 Sri Lankan business entities – comprising small, medium and large conglomerates – 21 Business Councils, 21 Trade Associations, 22 Regional, Sectoral and other Chambers with affiliations to over 120 international Chambers across the globe. It is recognised as the country’s premier business Chamber.