Elections in Sri Lanka: Speaking exclusively to NDTV, Mr. Premeds discussed how his vision differs from that of the current government, how he intends to resurrect the economy in a manner distinct from that of the current President, how he sees the relationship between India and Sri Lanka, and how he intends to deal with China.
Colombo: On Saturday, voters in Sri Lanka, which is gradually emerging from its worst-ever economic crisis, will choose a new president. Key Opposition Leader Sajith Premadasa is running against incumbent President Ranil Wickremesinghe for a second term in power.
The 57-year-old Mr. Premadasa is the son of the late President Ranasinghe Premadasa. In 2020, he became the leader of the Samagi Jana Balawegaya party (SJB), which broke away from Ranil Wickremesinghe’s United National Party (UNP).
The left-leaning, centrist party of Mr. Premeds has demanded significant modifications to the $2.9 billion bailout package with the International Monetary Fund (IMF) and has presented measures of its own to modify certain goals, such lowering taxes to lower living expenses. He has a very different plan.
Mr. Premadasa has been accused of promising goodies at his election rallies and has pledged subsidies. He supports a combination of interventionist and free-market economic policies. However, he claims to have a distinct vision for Sri Lanka and a strategy for achieving it.
Speaking exclusively to NDTV, Mr. Premadasa discussed how his vision differs from that of the present government, how he intends to handle China, how he perceives the connection between India and Sri Lanka, and how he hopes to resuscitate the economy differently than the current President is doing.
The salient points of his interview with NDTV are as follows:
What, in your opinion, makes these elections so important and significant?
A) There are several crises facing Sri Lanka. We don’t have a legal government in the political, social, or economic domains because the current administration is only a continuation of the one that was largely to blame for Sri Lanka’s financial collapse. That same parliamentary majority was the cause of the bankruptcy. Therefore, the people of Sri Lanka are eager to voice their thoughts and give their approval for changes. Change that will lead to national prosperity.
Although it is commonly known that the current President, Ranil Wickremesinghe, is credited with stabilizing the economy, it is a serious accusation if you suggest that he is the cause of the issue rather than its cure. Would you kindly provide further details?
If one puts down their laurels and walks the streets and speaks with the impoverished, the oppressed, the self-employed, the labor force, the entrepreneurs, and the rural and urban estate sectors, you will see that a significant portion of society has been negatively impacted, aside from the extremely wealthy. If I may offer you some statistics, the government statistical department determined that over 260,000 micro, small, and medium-sized businesses have closed. Millions of people have lost their jobs, millions more have fallen into poverty, and the government is at a loss on how to handle these issues.
The micro, small, and medium-sized businesses employ approximately 4 million people and make over 50% of the GDP.
What is your action plan, then, in comparison?
We postpone because we believe we will overcome the issue on our own. We must pursue a path of rapid economic expansion. Significant FDI is flowing into Sri Lanka, and the country is reorganizing itself to support the growth of businesses. that the bureaucracy’s grip, which has essentially choked off entrepreneurship, needs to be released. Make sure that companies grow and that the micro, small, and medium-sized industries receive sufficient assistance. What you currently possess is exclusive rather than inclusive.
So, how will you make sure of all of this? How do you approach resolving the finance issue? Additionally, make sure that the financial crisis does not lead the economy to contract rather than flourish.
You’re absolutely right when you say that the economy is insecure. This weakness does not provide a justification for corruption or plundering the public coffers. Should we win, our plan is to make sure that we uphold good governance standards, make sure that the main indices that influence foreign direct investment, ease of doing business, and good governance indices are all followed… Our current government falls short of the three requirements that it should have: it should be transparent, accountable, and responsible.
One of the main charges leveled against your party is that, during a period of economic hardship, you are offering generous subsidies and freebies to the public. From where will the money come? Wouldn’t that put the economy in even more danger?
We’ll destroy the current crony-capitalist system that exists. We’ll make sure that the main feature of our economic plan is growth. This administration is ignorant of growth. Their expansion is slowing off. Making everything smaller in order to demonstrate to everyone that the economy is stable is not the best course of action. We must develop ourselves to overcome the issue. Therefore, stability in the face of extreme poverty, extreme unemployment, contraction of growth, loss of livelihood, and decreased standard of living… I apologize, but I disagree with it. Our approach to macroeconomics is different from that of the government in that we consider microeconomics as well. Therefore, we are adopting a comprehensive, integrated strategy, while this government is only
India is interested in the area strategically. India and Sri Lanka are still very closely connected. What is your future outlook for the relationship between Sri Lanka and India?
When it comes to recovery, I have to say that one nation that has been incredibly kind and supportive during these incredibly trying and dire times is India. I would like to express my sincere gratitude to the Indian government, specifically PM Modi’s government, as well as to the people of India and the many states that have stepped up to support our nation. Thus, many thanks. That being said, I do not believe Sri Lanka is headed toward recovery in the right direction. As a result, we’ll make sure our policy is extremely balanced. India enters the picture by stating that the goal of our foreign policy will be to further our own interests. We’ll act in the best interests of our nation.
China is a major player in the area, and during the past few years, Chinese investments and naval presence in the area have increased. What is your opinion on Sri Lanka’s relationship with China?
We have a unique relationship with India in our foreign contacts, as I have explained to you. However, we also need to cooperate with every other country. The only politician from Sri Lanka who has suggested that India ought to be a member of the UN Security Council is myself. Having stated that, our nation would cooperate with all other nations, democracies, and nation states to guarantee the realization of Sri Lanka’s national interests. We will never attempt to undermine the geopolitical and security interests of others
