Budget 26: Reset the policy paradigm

SRI Lanka must consider a reset to reverse declining trends stemming from decades of narrow-minded policies. With fresh perspectives in hand, this Government holds power to drive change. In doing so it must strike swiftly to transform the social and economic order. With every passing moment an opportunity cost mounts the country can ill afford.

- BY KUMAR RANAWEERA

President Anura Kumara Dissanayake

Governments gone by trumpeted white elephants as effective policy. They lacked courage and the will to tackle real issues. Effective systems were traded for those that gave passage to power and popularity. Politicisation of policy and the civil service resulted in the breakdown of social systems, economic foundations and even justice.

Such actions sidelined business and growth. This includes segments like the tobacco and alcohol industry that were considered harmful, and preventive strategies were adopted versus effective regulation. The tobacco industry suffered greater setbacks under regressive policy regimes, and the legitimate trade is now impacted, whilst the social security system buckles under an onslaught from the illegal trade. Over Rs. 80 billion is lost annually by the state due to over 1.2 billion illegal sticks entering Sri Lanka annually. The economic and human cost of bungled policy runs great.

Ignoring plain truths