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Get back to work

23 Dec 2018

Ending two months of chaos and uncertainty, President Maithripala Sirisena finally relented and installed the United National Front (UNF) back in office, paving the way for the continuation of the Government that existed prior to 26 October, 2018 albeit without the United People’s Freedom Alliance (UPFA) members. At the time of writing, 29 cabinet ministers (including the Prime Minister), three non-cabinet ministers, 17 state ministers, and seven deputy ministers had been appointed and indications are that the numbers will go up with the likelihood of some UPFA members too receiving ministerial portfolios on the President’s return from overseas. It seems the “people’s demand” for elections as made out by the Pohottuwa Party during the recent showdown has all but disappeared with the antagonists digging in for a protracted parliamentary battle. It is clear that the people are in no mood for another election. What they seem to want is for the country to get back to normalcy, and for the Government of the day to deliver what was promised. The crowd that thronged Galle Face last Monday to show solidarity to the ruling party is testament to that. On the part of the UNF, failure to deliver from now on will result in catastrophic consequences for the party. A welcome side effect of the recent upheaval has been the awakening of the public conscience. Politicians of all hues are finding themselves being held accountable for their actions. This was apparent from the wave of public opposition on social media to at least one ministerial appointment made last week. It is not that the UNF, which now enjoys exclusive power, is not aware of this reality. Carrying with them individuals who are a political liability will certainly have consequences unless this public perception is reversed in the next 12 months, which probably is why the party is now planning to rebrand itself as a broader alliance to mitigate the bad odour emanating from some of the cabinet appointments. For his part, President Sirisena now has the opportunity to make amends for the economic carnage he caused by acting the statesman – something he has failed to display so far – and stay aloof of parochial party politics which will help the ruling party implement their course of action. It is now a do-or-die game for the UNF which can either opt to walk the talk and deliver what was promised, primarily expediting the investigations that have been in limbo or get back in to the rut that existed pre-26 October and stew in their own juices. Therefore, it is of paramount importance that both the President and the Government must at least now put country before party for the sake of the people. In the recent past, it has been characteristic of the UNP to grab defeat from the jaws of victory. It would be no different this time around if it does not seize the opportunity it has received and show what it is capable of rather than hide behind clapped out rhetoric which no longer offers the lifeline it once did. The current party leader is no doubt a good planner, but when it comes to implementation and driving the hard yards to get action on the ground, he is a proven failure. Simply put, the party lacks a “deliverer”, a leader who could get things done rather than pontificate on what could be done. It is also critical for the party’s survival that it does not outsource economic management to the IMFas it has done in the past. Disputed Opposition Leader Mahinda Rajapaksa said as much in Parliament during the debate on the Vote on Account, where he quoted Malcolm Cardinal Ranjith’s Christmas message, stating that a large proportion of the population could barely afford one meal a day owing to the high cost of living. For all intents and purposes, the UNF is caught between a rock and a hard place because they need to satisfy an electorate that has high expectations while at the same time they do not have much room to play around given the financial constraints owing to the debt repayment woes which will assume unprecedented proportions from next month as per the repayment schedule. The Vote on Account presented to Parliament last week, covering the first quarter of 2019, highlights this reality, where over 50% of the expenditure allocation of Rs.1,765 billion amounting to Rs. 970 billion would be for debt servicing. The bulk of the remaining funds will be utilised for public sector salary payments, leaving very little for economic stimulation. This is the reality that the UNF must face going into an election year. The fact of the matter is that Sri Lanka needs to get back to work, quickly. Billions of rupees were lost to the economy due to the unwarranted crisis, especially in the tourism sector which is currently the third biggest foreign exchange earner for the country after foreign remittances and apparel exports. City hoteliers were heard complaining last week that room occupancy in the hotels has plummeted to as low as 40% when during the same period last year occupancy levels were well over 90%. The Government must get its priorities right and strike the right balance between providing economic relief to a people burdened by cascading taxes and reinvigorating revenue generation through export industries and greater productivity. It’s no doubt a tall order but not one that is impossible. It is therefore imperative that no time is lost in resuscitating the sluggish economy by halting the outflow of funds and attracting new foreign direct investment, especially in export industries, which is the only way the country can earn revenue to pay its bills. The economic pundits must focus on reversing the recent credit downgrades which will help make the country more attractive for investment. It is also necessary that the rule of law and the institutions entrusted with that responsibility remain free of political interference and are further strengthened so as to boost investor confidence. Be that as it may, 2019 will be a decisive year for the country’s economy and one that will shape the direction in which it heads for the next couple of years. It is now time for the bickering politicians on both sides of the divide to put petty party politics aside and do the job they have been elected to do; especially the Opposition, which must make sure it plays its role by creating effective checks and balances to keep the ruling party in check.

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