Sri Lanka has been plagued by policy inconsistency for decades, which has hindered economic growth and development in the country. The lack of consistency in policies has resulted in confusion among investors and businesses, leading to a lack of confidence in the Government’s ability to provide a stable and predictable business environment. This in turn has hampered foreign investment and job creation, which are vital for the country’s economic growth.

One of the main causes of policy inconsistency in Sri Lanka is the frequent changes in government. Whenever a new government comes to power, it tends to change policies and initiatives implemented by the previous government, often without fully evaluating their effectiveness or considering the impact of the changes on the economy. This creates uncertainty for businesses and investors, who are hesitant to invest in a country where policies and regulations can change so quickly.

Another contributing factor is the lack of coordination and communication among State agencies. Different ministries and departments often have conflicting policies and regulations, which can create confusion for businesses and investors trying to navigate the complex regulatory environment. This inconsistency can also result in delays in project implementation, which can have significant economic costs.

In addition, Sri Lanka has been criticised for its protectionist policies, which have restricted foreign investment and trade. The Government has often resorted to imposing tariffs and other trade barriers to protect domestic industries, which has hindered competition and innovation. These policies have also resulted in higher prices for consumers and reduced the competitiveness of Sri Lankan exports in the global market.

To address these challenges, the Sri Lankan Government needs to adopt a more coordinated and consistent approach to policymaking. This should involve greater consultation and collaboration among State agencies, as well as engagement with the private sector and civil society. It is also important to implement policies that are evidence-based and evaluated regularly to ensure their effectiveness and identify areas for improvement.

Moreover, the Government needs to create a stable and predictable regulatory environment that promotes investment and growth. This can be achieved by providing clear and consistent regulations, reducing bureaucratic hurdles, and streamlining the process of obtaining permits and approvals.

In conclusion, policy inconsistency is a significant challenge to Sri Lanka’s economic growth and development. To address this challenge, the Government must take a more coordinated and evidence-based approach to policymaking, engage with the private sector and civil society, and create a stable and predictable regulatory environment. These efforts will be critical in attracting foreign investment and creating jobs, which are essential for the country’s long-term economic growth.