By: Isuru Parakrama
September 24, Colombo (LNW): The Ceylon Chamber of Commerce (CCC) has submitted a comprehensive 10-point proposal to newly elected President Anura Kumara Dissanayake, outlining critical economic challenges and areas for urgent attention.
The recommendations focus on enhancing economic stability and fostering sustainable growth, whilst addressing key issues such as debt restructuring and visa regulations.
In a public statement shared via social media platform ‘X’, the CCC identified several priority areas, including the need to advance Sri Lanka’s debt restructuring efforts and strengthen the nation’s engagement with the International Monetary Fund (IMF).
The Chamber emphasised the importance of accelerating key reforms in the President’s first six months to stabilise the economy and build investor confidence.
One of the key recommendations was the urgent completion of external debt restructuring, which builds upon the recent progress made with commercial creditors.
The Chamber urged the President to maintain momentum in this area, ensuring continuity with the IMF programme and securing the next tranche of funding.
The Chamber also raised concerns about potential changes in government expenditure, suggesting that any revisions to the current fiscal policies be supported by credible revenue generation plans.
It advised against imposing additional burdens on taxpayers, and called for a review of existing systems such as RAMIS and SVAT to enhance revenue collection.
Another immediate priority highlighted was the resolution of the on-arrival visa issue, which has been affecting the tourism sector.
The CCC stressed the importance of implementing a robust visa system to attract more foreign visitors and boost the economy.
Additionally, the proposal urged the new government to advance its digital infrastructure initiatives, particularly the implementation of a Digital Public Infrastructure and Digital ID system.
The Chamber also called for the prompt rollout of the National Single Window for Trade, which it said would streamline trade processes and bring significant benefits to the country’s economy.
Other notable recommendations included establishing a National Implementation Oversight Committee to ensure reform delivery, and advancing key legislative changes, particularly those related to economic transformation, public debt management, and electricity reform.
The Chamber advised that such legislative measures should be introduced with input from the private sector and relevant stakeholders to avoid unexpected disruptions.
The CCC also underscored the importance of following through on the IMF Governance Diagnostic Assessment and restarting trade negotiations with key partners such as China, India, and Indonesia.
It urged the government to focus on building international trade relationships to expand Sri Lanka’s economic opportunities.
Concluding its statement, the Ceylon Chamber reaffirmed its commitment to work closely with the new administration to transform Sri Lanka into a developed economy.
The Chamber expressed its readiness to engage in productive dialogue and offer support for the country’s future reforms.
