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Politicians engaging in blaming others instead of building the country ought to be rejected: PM

Prime Minister Ranil Wickremesinghe 700 01

Prime Minister Ranil Wickremesinghe has stated that it is useless to engage in politics criticizing others. It is useless for such persons to remain in politics. Such persons ought to be rejected by the people. A future cannot be created for the country's youth by blaming and criticizing others. The priority is to pull the country though difficult times.

He made this observation addressing an event held to mark the opening of a new lubricant blending plant built at the Ceylon Petroleum Storage Terminals Ltd (CPSTL) complex in Muthurajawela with an investment of US$ 30 million by Malaysian manufacturer of petroleum derivatives Hyrax Oil.

During the event, Wickremasinghe received a product from the company’s Group Director Dato Hazimah Zainuddin. Minister Kabir Hashim, Deputy Minister Anoma Gamage and Malaysian High Commissioner Tan Yang Thai were also present.

Speaking at the event, Wickremesinghe said:

“ It is the duty of the government to provide a better future for the youth. People expect a good economy and we must deliver. There is no point in talking politics and scolding other people. It is acceptable to be scolded after doing the right thing. But we must do the right thing. That is why this Government has achieved results even during a difficult economic period and aims to fast track growth in the future.

These foreign investments are useful to us. We have had industries for a long time but few have become global contenders. Before the open economy we and Malaysia were equals but because of a 30-year war we fell back in development. Singapore and Malaysia moved forward and are now huge economies. When the war ended we were on par with Vietnam but even though the war ended we did not move forward. Instead there were large-scale infrastructure projects based on borrowing that resulted in debt.

After we came to power we slowly built the economy and even though we have to borrow we now have the capacity to repay those loans. In the last two months we needed $ 2 billion and today we are asking for that money from London and New York. Many warned us not to go to markets after the Easter Sunday attacks but we nonetheless moved forward. The markets in the US have not yet closed but we are confident we will be able to raise the money at lower interest rates because international markets still have confidence in Sri Lanka. So we have enough funds to refinance debt because the international community has faith in our economic policies and the strength of our macroeconomic stability.

We also managed to establish investment zones and set up factories. But what are the tangible benefits? We managed to fill Biyagama in less than 10 years, in eight years we filled the Seethawaka free trade zone, Katunayake and Koggala. As a result of that the young generation no longer expect to make a living off farming or fishing. They aspire modern jobs, this is what they demand from the Government now, which is their right. In the next five years we must push forward and bring technology-related investment projects to this country. They must be cutting-edge industries so that if a worker is employed here in five years they can work anywhere in the world. We must make Sri Lanka a hub.”

 

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