People do not share Govt’s views on economic growth -Sajith

by Saman Indrajith

UNP Hambantota District MP Sajith Premadasa yesterday told Parliament that though the government boasts of an eight per cent growth rate in the economy, the people do not share the same view, as they do not feel or see the dividends of such growth.

Participating in the debate on the Customs (Amendment) Bill, the MP dismissed the government’s brag of maintaining such a growth rate for years and pointed out that the per capita debt that stood at Rs 129,873 in 2006 has risen to Rs 291,420 at the end of 2012.

Premadasa said that the government could not save the industrial sector, especially the garment industry from collapsing owing to its financial mismanagement. The government has given a New Year present to the people by means of a tariff hike in their electricity bills. The government comes up with the excuse of not having funds to prune down welfare such as Samurdhi but does not hesitate to spend lavishly on motor car races. Despite the fact that the government spends huge sums to pay back the loans already taken and their interests, it keeps borrowing. The per capita debt percentage has increased by 124 per cent during the last six years.

The MP said that Sri Lanka had dropped to the 68th position in the list of countries for investment. The dividends of so-called growth rate were not felt by the people because they do not trickle down. A 20 per cent of the ruling class enjoys 58 percent of the economy, he said.

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