Sri Lanka Economic Forum 2016 is structured around four key areas of risk and opportunity, with several internationally-respected thought leaders invited to share their perspectives with the Government of Sri Lanka, the Prime Minister’s office said today.
Prime Minister Ranil Wickremesinghe
According to the statement issued by the PM’s office, Harvard University’s Center for International Development has done an initial growth diagnosis on Sri Lanka and has identified the following key areas they believe are important to support sustained and inclusive long-term growth.
- Macroeconomic and Fiscal Stability
- Structural Transformation and Competitiveness
- Urbanization and Development
- Regional Development and Social Inclusion
We publish below the statement in full;
On the threshold of entering into an era of unprecedented economic growth, spotlight falls on Sri Lanka in 2016 with the much awaited Sri Lanka Economic Forum 2016.
Under a theme of “Steering Sri Lanka towards Sustainable & Inclusive Development”, the Sri Lanka Economic Forum is held in Colombo at the Cinnamon Grand on the 07th and 08th of January 2016 under the patronage of His Excellency Maithripala Sirisena, President of Sri Lanka and Hon. Ranil Wickremesinghe Prime Minister of Sri Lanka. The Forum will be graced by the likes of international investor and Founder Chairman of Open Society George Soros and Nobel Laureate Economist Joseph Stieglitz, in addition to a glittering line up of internationally acclaimed experts and other distinguished visitors.
The findings of the preliminary study on Sri Lanka carried out by The Harvard University’s Centre for International Development, would be addressed at the Sessions. The study identified four key areas of risk and opportunity that are believed to be strategic in supporting sustained and an inclusive long-term economic growth for Sri Lanka.
These are outlined as macroeconomic and fiscal stability, structural transformation and competitiveness, urbanization and development and regional development and social inclusion.
Macroeconomic and fiscal stability –Sri Lanka will face a formidable choice in determining the establishment of a solid foundation towards sustaining long-term growth through sound monetary and fiscal policy.
Structural transformation and competitiveness – The sustainability of economic growth calls for Sri Lanka to convert its comparative advantages towards initiating industries that can grow and expand while supporting higher wages.
Urbanization and development – The exact choices must be made in urbanization that will ensure the right balance of productivity, competitiveness and sustainability, which will also impact national development, and the sustenance of livelihoods.
Regional development and social inclusion – As Sri Lanka comes face to face with the challenges of structural transformation and urbanization, some sectors of the economy are likely to face a greater pressure than others, which may excessively affect some regions and social groups over others.
The Sri Lanka Economic Forum will set the stage for an in-depth analysis and discussion of the need to develop government policy along these identified areas of importance. The forum is based around these fundamental concepts and will set the stage for many globally recognized thought leaders to share their perspectives on Sri Lanka, while also sharing lessons learnt from other countries and their experiences in measuring development as well.
The event will also address the vision of Hon. Prime Minister Ranil Wickremesinghe under the aegis of President Maithripala Sirisena, towards heralding in inclusive economic prosperity for Sri Lanka by 2023.
In addition to George Soros and Joseph Stiglitz, the panel of distinguished speakers includes Ricardo Hausman, Professor of the Practice of Economic Development, Harvard Kennedy School Director, Centre for International Development, Alan Hirsch, Director, Graduate School for Development Policy and Practice, University of Cape Town, Robert F. Conrad, Associate Professor, Sanford School of Public Policy, Duke University, Christopher Woodruff, Professor of Economics, University of Warwick, Erion Veliaj, Mayor, City of Tirana, Albania, Filipe Campanile, Associate Professor of Public Policy, Harvard Kennedy School, Ljubica Nedelkoska, Growth Lab Research Fellow, Centre for International Development, Montek Singh Aluwalia, Visiting Professor, Stern School of Business, New York University and, Sean Turnell, Associate Professor, Department of Economics, Macquarie University.
Live streaming of the event and further information can be obtained at www.srilankaeconomicforum.org.
Crazyoldmansl / January 6, 2016
You really cannot have all four at the same time at the same scale…there has to be a balance…in Harvard they do not know this.
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Native Vedda / January 6, 2016
Crazyoldmansl
“You really cannot have all four at the same time at the same scale…there has to be a balance”
Why not?
“in Harvard they do not know this.”
Probably you must have met a Three Hand Economist.
Here is something for you to ponder:
Q: Why did God create economists?
A: In order to make weather forecasters look good.
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Ben Hurling / January 7, 2016
Does anybody know why Mr. Soros is considered such a big shot by RW?
Cheers!
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Native Vedda / January 7, 2016
Ben Hurling
“Does anybody know why Mr. Soros is considered such a big shot by RW?”
George Soros on 16 September 1992 broke into the Bank of England and stole £1billion on that Black Wednesday.
Actually, he pocketed billion from Britain’s exit from EU’s European Exchange Rate Mechanism (ERM) by simply speculating on British pound
“from selling sterling he didn’t own”.
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Ben Hurling / January 8, 2016
Native,
Soros seems to be a damn good speculator in Financial Markets.
He could learn a few things about investing from us in Sri Lanka though.
I advise Soros to consult Arjun at Perpetual in Colombo, before leaving the Island.
Cheers!
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Native Vedda / January 6, 2016
KASmaalam KA Sumanasekera
How soon can we have your critique of Prime Minister’s above economic objectives?
As usual, feel free to quote from your old thesauruses/record and we welcome you to contribute to this discussion. Don’t be scared of repeating the same old trash and we would appreciate your right to your intellectual independence and freedom of speech.
We need more fun. Hopefully, you will provide much-needed distraction.
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Patta Pal / January 6, 2016
It is less than 24 hours to a very important Economic debate on how this Country should develop in the next 25 years, and NO Economist worth his brain in Sri Lanka will be present.
The organizers don’t even have a list of the great economic thinkers of our time, who have something to contribute to the debate. (not the geriatrics, who will not be able to keep their eyes open let alone hear due to the defects of their hearing aids.)
http://www.srilankaeconomicforum.org/
With Josef Stieglitz, Ricardo Haufman, Montek Singh Ahluwalia and a stellar cast of experts, matched with a few notables who are NOT in the policy making sphere like Razeen Sally, Nishan de Mel and WA Wijewardena the audience seem to be just a bunch of 8th grader politicians!
Frankly the whole seminar and the topics that are being covered are completely over the heads of the attendees, who are most likely to fall asleep during the discussions, when all those who could benefit from this and give their input to the economic debate are completely left out.
If I am not mistaken the PM is putting a three line whip on attendance of the Ministers, but unlike the PM, the ministers are simply incapable of understanding even 1% of the topic these top economists are about to expound upon.
Macroeconomics and Fiscal Stability – being lectured to people who are anything but!
Structural Transformation and Competitiveness – To those incapable of seeing the PMs vision will certainly not buy into the World Renowned Economists exhortations.
Urbanization and Development to those who have not been able to turn up to the Cinnamon Grand in time, due to the predictable, but totally messed up chokehold on traffic, due to lack of ability to forecast and action.
Regional Development and Social Inclusion to those who don’t know what they are talking about.
This is invitation only, at least if they charged Rs25K per head, and gave sufficient notice, the best of the best would have paid and come! What a WASTE! of a great opportunity that ONLY comes once.
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Bagehot / January 7, 2016
So who are these people you think should be allowed in, as everyone else is to be left out? Go on, tell us.
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Vibhushana / January 6, 2016
USA is responsible for the Japanese revival after WWII.
The Japanese invited a mentor from the USA. This person guided Japanese institutions while residing in Japan. That is how that country grew so fast.
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EDWIN RODRIGO / January 7, 2016
The Japanese economy grew so fast because they first dropped 2 nuclear bombs on it and made sure that they started at ZERO.
perhaps not a bad solution for us too.
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Native Vedda / January 8, 2016
EDWIN THE REDNECK RODRIGO
“The Japanese economy grew so fast because they first dropped 2 nuclear bombs on it and made sure that they started at ZERO.”
On 17 April 1975 Pol Pot’s Khmer Rouge declared the the day as revolutionary Year “ZERO”. Probably you wouldn’t know what followed immediately after the fatal day.
“Within twenty-four hours, members of the deposed Lon Nol government, public servants, police, military officers, ethnic Vietnamese, Christian clergy, Muslim leaders and middle-class citizens were identified and executed. Schoolteachers, students, doctors and those who simply wore glasses or knew how to read were murdered for being “intellectuals”. – onthisdeity.com
You missed the opportunity do the same on 19 May 2009, under MR the most suitable tyrant to fit in to the category.
“perhaps not a bad solution for us too.”
Actually for many the YEAR ZERO started on the 4th of February 1948.
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justice / January 6, 2016
As long all loosing state enterprises continue, no “economic plan” will work.
These well known ‘white elephants’ will impede any progress.
The ‘mega cabinet’ of misfits will contribute.
The PM is dreaming, and all nice things will be said at this ‘forum’ without facing realities.
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Rajash / January 6, 2016
where is the Truth and Reconciliation Summit?
The country needs to move forward as one inclusive country to have any economic development.
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Echo / January 6, 2016
Did Harvard scholars remind PM that “Structural Transformation and Competitiveness” means merit based opportunities for all stakeholders?
Is Sri Lanka really ready to go back to merit based administration and management at all levels?
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Yahapalanaya / January 6, 2016
What would be the total cost? and expected outcome?
Why can’t we have local economists also in the panel? Are there any practicing economists from India/Bangladesh who understand the south asian culture better who could be considered? Do these people properly understand the Sri Lankan social and economic conditions? Textbook academics with thousand publications won’t work (Like GL).
SL will end up in a disaster if we keep on going after US specially with RW, RK, Mahendran and Mid-west educated Dr. Harsha De Silva with Gamarala S. Are we serious of FTA with US? and with any other developed countries like India (I think Raja started this). Can our Goods, Technology, productivity and labour compete with India?
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Native Vedda / January 7, 2016
Yahapalanaya
“Can our Goods, Technology, productivity and labour compete with India?”
How long do you intent to produce useless products which no sane minded consumer would want to buy at an exorbitant cost.
Since India opened up its economy to competition the consumers are the beneficiaries of quality products, at cost effective prices, plenty of choices, huge improvements in technology, management, productivity, skills improvement and more employment opportunities, ,………….
As long as you sit on brain you may not know these benefits.
Once an Indian MP told the parliament, the only part which didn’t make any noise in an Indian made car was the horn. They kept producing the same old Ambassador until foreign manufacturers were allowed to produce their `own brand in India. Now Thamil Nadu has grown into motor manufacturing hub.
Sit down and think about it. Your petty nationalism will not benefit the consumers but those lazy arrogant, stupid,… manufacturers who enjoy undeserved profits from a captive market.
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Patakis / January 8, 2016
You are right anbout panelists. Arjuna Mahendran had a top tier education in England like Eran Wikramaratne. Only real doctorate in economics is Dr. Harsha De Silva : he went to Missouri, not a top tier Uni in USA for economics; a decent school but not ranked. We are not sure if he ever published in pier reviewed top journals for developmental economics or just worked in private sector with his comparative advantage of power and privileged education and wealth.
RW went to Law School in Colombo U or Law College. I think he was brightest of the siblings and did go to University in Colombo but never practiced law but is very widely read.
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BBS Rep / January 7, 2016
I have seen forums come and forums go. I have seen grand statements made and grand statements go. On the ground very little moves. No one in this forum has addressed or added to the equation the utter corrupt practices that prevail in our political scene. If there is no ‘something’ for the politician nothing on the ground is going to move.
So they will wine and dine grandly in the Grand Cinnamon, make grand submissions and speeches and they will go.
The gamaralas will remain gamaralas, and the huge army of monks will eat pin bath, the politicians will make money, luxury cars sans taxes will be imported and the president will go about waving his ‘madu walige’ preserving a mish mash of a culture.
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Devasiri / January 7, 2016
Interesting thing is in this Economic forum one of the main speaker is fake Economics professor. His PhD is Sociology but given Professor of Economics from famous family dept in Colombo University. He recruited for this family dept through out door connections from grand father Emeritus.
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Fedrick / January 7, 2016
[pEdited out]
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Patta Pal / January 7, 2016
Cretins at the Economic Forum – Today at the Cinnamon Grand
In a few minutes the long awaited and much anticipated Economic Forum will commence under the auspices of the PM and President. In fact it was neither long awaited nor much anticipated as no one who should know about it knew anything about it. Whose fault is it? Clearly the PM’s office.
Worse instead of charging a minimum Rs150,000 per head for the 500 attending at the OAK Room (approx US$1,000) for the two day gathering, they are based on Invitations! All of the 50 MPs so invited except for the PM of course who is always punctual, will be on Sri Lanka time, at least an hour late, blaming it all on the traffic, which they themselves should have solved a long time ago. So these are the first set of Cretins. Sadly every point under discussion will be lost on them, including the PhD’s attending if there are any amongst them, as the PhD is a common or garden variety.
Then the Columbians, with more money than sense, those who inherited Daddy’s money, and think they have increased it 100 fold (when it is all the reason of the Middle East remittances that have resulted in a 100 fold increase in Property prices!) who are gunning for tickets, with promises of untold riches, to the jokers responsible for distributing them on behalf of the PM, makes a mockery of the freebie!
They just want to be at the next cocktail party to be one up on the rest by getting a ticket, a HOT COMMODITY today, and that is all. They won’t understand one end of the word economic from the other, and have seriously done nothing to enhance the value of Brand Sri Lanka.
To cap it all I am willing to bet my life that the total tax dodge between the MPs there and the Rich because they dodged their taxes, is about Rs10B just for the year 2015. SO is it really justified that those who have defaulted on their taxes are given a free ticket entry to the above forum, when those who have paid their taxes or are not even earning enough to pay taxes, are not even identified as those who can seriously contribute to the debate and are hence NOT INVITED?
The sum total over their lifetime of those present who have NOT paid their share of Income, Corporate and other Taxes, (many have evaded the Customs duty by bribing the Customs officers.) is approximately Rs100B.
READERS please understand that there is the highest concentration of criminals in one place in Sri Lanka at the Econ Forum at the Cinnamon Grand this morning. Only if Stieglitz and Soros know that it will be the first thing they will say, “ if those of you who are gathered today, paid taxes, I will not need to be here” “you would have been amongst the top 10 developed countries on earth!”
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Spring Koha / January 7, 2016
Brilliant stuff and just what Sri Lanka will need to focus on. But not at this moment. Not until it attends to some outstanding matters that will continue to lurk about the hall emanating bad smells.
President Sirisena and PM Wickremasinghe are a tad premature here, trying to build castles on shifting sand.
This President,and this government were elected by a democratically unified electorate with expectations that they would
1 Cleanse the political stables of the crooks and hangers-on who have been bleeding the country dry. Those who were rejected by the electorate have been welcomed back through the back door. A thundering slap in the face of those who came out and voted.
2 Free public administration of nepotism and cronyism. Both evils are doing well, and flourishing. Both, the President and the PM have been pretty thick-skinned about their involvement.
3 Invest much needed leadership in the long overdue matters of accountability, human rights, and reconciliation.
4 Restore the Rule of Law.
5 Move promptly and effectively against those organisations (the outspoken and the shady) that mushroom with the sole purpose of causing both religious and ethnic strife.
I know the Forum will be an ‘outstanding’ success, and there will be much nodding and wise words; and the food and drink will not be found wanting too.
So sorry to poop on the party.
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KA Sumanasekera / January 7, 2016
Macro Economics and Fiscal Stability.
Sounds pretty cool..
US Dollar has gone up to 145 LKR ..That is nearly 8 % depreciation in just less than 12 months of Yahapalanaya.
Treasury Bonds which the Uncle issued to Alloysious over and above the tender at 12.95 are now fetching only 7.65%.
Packer Casino was stopped, because Galleon couldn’t get the accounting job.
Wonder what happened to the other one ,ie John Keels Two Up Hotel and the Spa on the Beira Lake?.
Harbour City Development was stopped because UNP couldn’t get any commissions.
Same with the Kandy Express way.
High way to Yarlpanama had to be reserved for Surendran to arrange the finance, construction and Development after the Vellalas settle in the North..
Batalanda is now begging the IMF for a bail out, because the House Maid remmittances are not enough to pay the Elites’ monthly invoices for Electric Cars, Festival Food, and Designer Undies to throw at Englesi ass.
What a joke.
Batalanda is trying to bamboozle the Yahapalan suckers with these fancy terms.
And keep them quiet until Sambandan gets the Homeland after the White Judges cull the Armed Forces.
Batalanad and Mangalan In the meantime ,are working over time to split the SLFP , and castrate the President , so that UNP can govern on its own.
Elite will be ecstatic ,
Wonder how many Bridges and Highways Soros has built in Third World countries?..
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Native Vedda / January 7, 2016
KASmaalam KA Sumanasekera
“Harbour City Development was stopped because UNP couldn’t get any commissions.”
Is it because its been already levied by the clansmen?
Chinese are not that stupid to pay commissions twice for the same mega project unless of course the state is willing to agree a fresh inflated total costs again.
Let me come back to my original comment which you haven’t responded to.
How soon can we have your critique of Prime Minister’s above economic objectives?
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Patta Pal / January 7, 2016
I have written some harsh words about the above in the past few blog entries, not out of spite, but in trying to get a point across where chances are missed and we never seem to learn from our mistakes. Sri Lanka is an exercise in missed chances due to a lack of vision of those who are entrusted with her future.
Lets face it, the PMs office knew of this event for at least three months, as it had been planned well ahead. In the middle of this, we have Nawaz Sharif visiting, Tony Blair is putting in an appearance and now the Norwegian Foreign Minister is winging his way here, all at a time when full national debate should have been engaged PRIOR to the start of this event, so that the populace at large could be well versed in what was at stake here.
We should have had mini fora of academics and thinkers all throughout the Country last year, and the prize being entry to the present Forum. The participants will then have had months to consider alternatives and be able to compare international economic ideas with their own, to present and thereby amend any misconceptions at the Forum to lead to a consensus of how best to move forward with implementable solutions without further delay. How much more profitable and worthwhile would this have seemed to the presenters if they know that the Sri Lankan intelligentsia have debated the issues at hand, rather than be confronted with the proverbial morons in the audience who don’t have a clue.
Why leave it to a bunch of Harvard Economists to dictate our fate? We should have had a debate on the sequence of events preceding the evaluation and implementation of their recommendations, by pointing out some aspects that are not properly understood about Sri Lankan psyche and the lotus eater complex that is unique over and above the typical Island mentality that has constricted growth due to decisions taken that are detrimental to maximizing our true potential as a nation with a huge potential, mis identified and not identified!
I am not crying sour grapes for not having been invited, as I have sufficient representatives there with whom I can have a debate on the what ifs, though it would be nice to critique it without strings, that the other completely biased Media contingent will expound on topics they have no clue about, in tomorrow’s newspapers.
Any reader of my no holds barred blog will realize if I am of the caliber of person, versed enough in the reality of how this nation functions to understand the practicalities of recommendations and advice given to Sri Lanka by distinguished panels of experts in their fields of study. I don’t have a PhD in Economics but I can have an intelligent conversation with any Economics Professor on the completely unconscionable exclusion of some of the most significant contributors to the growth parameters of Sri Lanka.
The value, training and marketing of Sri Lanka’s biggest Natural Resource, namely of Human Resource, has ONLY HAD scant attention, when it SHOULD have been the most important and critical factor in our development process for the past 70 years. If it had been identified and properly exploited then, we would be probably the richest per capita country on the face of the earth today, and not struggling with unending problems of our own making.
Instead we are still debating on how to improve the quality of our miserable Education System, when we had a better system before Korea decided to re engineer and now have a world beating Human Resource capacity, that is only constrained by its shortage!
Let us therefore understand this basic before we try to solve non existent issues.
WE MUST SOLVE THE MAIN ISSUE WE KNOW CONSTRAINS OUR GROWTH
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EDWIN RODRIGO / January 7, 2016
The findings of the preliminary study on Sri Lanka carried out by The Harvard University’s Centre for International Development, would be addressed at the Sessions.
Great! What they recommend would clearly define what we should not do. Read this: I’d rather entrust the government of the United States to the first 400 people listed in the Boston telephone directory than to the faculty of Harvard University. (William F. Buckley, Jr.- Author)
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alex / January 7, 2016
Whilst its all very good to aim for the stars, in Sri Lanka leaders often fail on the important basics. In the year of Mr Wickremesighe’s return to power the military is still torturing Tamils with impunity and hasn’t returned the vast majority of their land, nor removed the military from civilian affairs. Impunity is rife, disappearances continue, and as far as the Tamils are concerned, there are is no rule of law. Start with the basics Mr Prime Minister, or else in due course there will be calls for you to head to the Hague too.
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KA Sumanasekera / January 8, 2016
Dear Native,
Georie Soros reiterates K A Sumanasekera’s prediction that Tourism is the only way to Development and lift the living standards of our Srialankans..
In doing so, George sort of ridiculed Batalanada by contradicting Batalanad’s address, in which he was on about Industrialisation of Srialnka.
Batalanda thinks a few assembly shops is the panacea .
That is how much Batta knows about current Economies.
Going by the quantity and the quality of comments here to Batalanada’s Four Economic Pillars. even the hard core Yahapalana suckers seem to be clueless about it.
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Ranil Wijeyesekera / January 9, 2016
We need to reschedule our loans. ADB has come to our aid. IMF will probabl;y give us SDR. We need aid from the world bank for stuctural adjustment. OPening the door for free trade and exports mens we will lose jobs and gain jobs as well as expenses for change. Let us consentrate on our economy i9n diffficult times and tailor make our economy based on forecasts of world trendes. We are havibg unstable macro economic indicators.
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N Wimaladasa / January 10, 2016
Present UNP policies back by US thinking thanks, that it is concern with market relationship link to International Division of Labor has been in favor of exploited by US and Indian Multi-National Corporations after that MS-UNP junta being to power 2015 January 9th.
The identification by UNP-Ranil W…four points primarily deal with the interaction of market forces in our nation and their effect on the stability of a US and Indian footing in Sri Lankan soil of growing economy.
It is not the generation of growth of but its instability in depend capitalism of neo-colonial economy, that is their main concern of US headed thinking tank. This is result of the bankruptcy of neo-liberal orthodox economic theory and its inability to understand the current governances of state by UNP regime.
2016 New budget proposals and Economic policies outline by UNP-Ranil W… did not address our economic problems, it will become increasing apparent as ours New political-economic-social crisis deepens.
Since 2004 that Sri Lankan GDP growth was rise out of US $ 24 Billions dollars has been rose to US $ 74 Billions during that Mahinda Rajapakase ruling alliance; which was play more progressive role & path of sustsnibility mode of economy. Ten year period of MR alliance (2004 to 2015) it has recorded stability of growth that National GDP to certain extent by self-generating contribution to development path of economy.
Now our economic problem of leaping out of the morass of endemic stagnation since last one year 2015 January 9th.
Well ongoing policies of UNP -Ranil W…being seek, that US and Indian thinking tanks to assist us the alternative approach sketched out that here is presented by US group of elites belief that when Neo-liberal orthodoxy policies apply to Sri lanka.. Needless to say it will be fails heresy must come into own vested interest of US economy hegemony that alliance with Indian monopolies bourgeoisies.
Ours economic is rural base Agriculture are the primarily those pertaining to simple commodity production in TEA of 40% RUBBER of 45%, Coconut of 60% and Paddy cultivation more than 80% less than 10 acres of land are concern petty ownership still represented backward mode of production.
The simple commodity of production, its ownership and management while the owner and their family sometimes assisted by outside few hands directly engage in labor.
The very Petty commodity production with its ownership and atomized management is the very inception fertile breeding ground of the Neo-Liberal backwardness and low production as consequences of that low productivity, inefficiency, ignorance, apathy and lethargy hence resistance to sustainability path of Independent capitalism is/was policy of root cause of UNP politics and its leadership since 1948.
During last 67 years development that unique isolation form social and political development which is characterized our rural masses. Its constrains the growth of rural development and its vital forces by UNP outright depend capitalism.
Due to that the economic basis of chronic underdevelopment remain until MR alliance being to power 2004. In fact there is historical truth that MR alliance have successfully solved certain extent by building wide ROAD NET WORK through out the ISLAND.
Indeed UNP and MS leadership are grappling with castrated capitalism. More than that leaders of current regime of ruling parties are not even fully conscious of it. Present regime of UNP installed by Foreign powers there exist types of US and Indian relationship of western neo-liberal ideology of orthodoxy.
But they (UNP) seek US and Indian assistance by inviting them from western Universities rescued them of crisis challenge by unfinished task of capitalist path of development. PROPOSED POLICIES OF UNP-Ranil ARE NOT A DEVELOPMENT STRATEGY BASED ON THE RURAL ECONOMY DOMINANT by US and Indian economic and political expansionism.
Since 2015 January 9th NEW installed parasitic RULING CLASS of rulers and their bureaucratic and state apparatus ,which annually swallows up half of government tax revenues and still party leaders finds its appetites unsatisfied to be dismantled enjoy by past ill governances .
New regime head by MS CBK and UNP-Ranil government unable to switches its investment priorities and focus all resources on developing rural and urban economic forces.
Indeed if in case of UNP want tempo of economic development of rural economy are conditional on the massive diversion is urgently need to address it of resources, technology and science of innovation and skill manpower from the urban economy.
While food and agriculture raw materials still account for majority for 60% present of annual import bill. Needless to say is decisive breakthrough in the rural economy that can crack an open the huge foreign exchange problem which we are now confronts us at every turn today.
The present key economic problem in our country is the development did not address by UNP-regime.
Year 2016 is year of deep economic crisis in danger ,when it comes-Sri Lanka, we will find us wholly unprepared unless we resolutely turn back to sustainability path and has been taken by past MR alliance as alternative road without further delay.
In any case it would be a great mistake to think that UNP -Ranil.W… in the event of cluster cities of rural economy of the event new farmer class turning towards division of large scale land for the neo-coloinilaztion of would be transient phenomenon of no serious significance of modern capitalism.
So-called neo-liberal material significance in that nothing capable of so thoroughly sweeping away rural poverty the survivals of current regime in Sri lanka, in a state of Asia mode of production we have rapidly promoting progress combine between ancient and modern innovation of technology as self sufficient food and its exports .
The Independent path of sustainability of capitalism key solution of agriculture problems in the democratic revolution would create favorable starting points for further economic development of Our Island.
In case UNP leadership has to counteracting all half-heartedness, flabbiness, spinelessness and passivity qualities which neo-liberal bourgeoisie cannot help capitalist revolution -Sri lanka.
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